Indonesia Posts Trade Surplus in October, Third Month in a Row
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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.
Questions & Answers
Q.What was the total value of Indonesia's exports and imports in October?
What was the total value of Indonesia's exports and imports in October?
Indonesia's exports in October were worth $15.09 billion. Imports for the same month totalled $14.19 billion, contributing to the overall trade balance.
Q.Why did the trade surplus in October shrink compared to the previous month?
Why did the trade surplus in October shrink compared to the previous month?
The trade surplus in October shrunk from September's $1.76 billion to $0.9 billion. This was primarily due to a significant jump in imports, which rose by 23.33 percent.
Q.Which types of goods primarily supported Indonesia's exports in October?
Which types of goods primarily supported Indonesia's exports in October?
The October trade surplus was supported by larger shipments of commodities such as coal and metal. Manufactured goods also contributed to the improved export performance during the month.
Q.What was the main reason for the increase in Indonesia's imports during October?
What was the main reason for the increase in Indonesia's imports during October?
The rise in imports, which jumped by 23.33 percent in October, was attributed to increased purchases of raw materials. These materials are intended for industrial use.
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