Indonesia posts smaller-than-expected $200 million trade surplus in June

16-Jul-2019 Intellasia | Reuters | 6:02 AM Print This Post

Indonesia recorded a narrower-than-expected trade surplus in June, as imports surprisingly rose, government data showed on Monday.

Southeast Asia’s largest economy had a surplus of around $200 million in June, the statistics bureau said. A Reuters poll had expected a $690 million surplus. Indonesia had a surprise surplus of $218.5 million in May.

Imports increased 2.80 percent in June from a year earlier to $11.58 billion, as opposed to the poll’s prediction of a 5 percent drop.

June exports were down 8.98 percent on year to $11.78 billion, as earnings from minerals as well as oil and gas products plunged.

Through May, Indonesian exports and imports both declined for months, in line with softer global trade amid the US-China trade war.

Statistics bureau chief Suhariyanto said long holidays at the end of the Muslim fasting month of Ramadan contributed to June’s weak foreign trade.

https://www.reuters.com/article/us-indonesia-economy-trade/indonesia-posts-smaller-than-expected-200 million-trade-surplus-in-june-idUSKCN1UA0C8

 


Category: Indonesia

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