Indonesia Posts Trade Surplus in October, Third Month in a Row
Indonesia posted a trade surplus for a third straight month in October, the Central Statistics Agency said on Wednesday (15/11), as improved demand for commodities underpinned exports from Southeast Asia’s biggest economy.
The trade surplus in October was $0.9 billion, the agency said. The surplus was supported by larger commodities shipments such as coal and metal, as well as manufactured goods.
Demand from China continued to support Indonesian exports, the agency said.
The surplus, however, shrunk from September’s surplus of $1.76 billion. Analysts polled by Reuters had expected a $1.63 billion surplus for the month.
Exports rose 18.39 percent in October on an annual basis, compared with a 16.59 percent increase forecast in the poll.
October exports were worth $15.09 billion.
Meanwhile, imports jumped by 23.33 percent to $14.19 billion, picking up pace from a 13.13 percent rise in the previous month and compared to a forecast of 16 percent growth.
The rise in imports was due to purchases of raw materials for industrial use.