Indonesian exports, imports surge in May

16-Jun-2021 Intellasia | Reuters | 5:02 AM Print This Post

Indonesia’s export growth shot up on a yearly basis to an 11-year high in May, supported by high commodity prices and a low base effect, while imports also jumped as domestic demand rose, official data showed on Tuesday (Jun 15).

Exports rose 58.76 per cent to $16.60 billion, the biggest increase since January of 2010 due to a strong rise in shipments of oil and gas and mining products. This compared with a 57.49 per cent rise expected in a Reuters poll and April’s 51.94 per cent growth

Imports were $14.23 billion, up 68.68 per cent from last year, higher than the poll’s 65 per cent growth forecast and April’s 29.93 per cent rise. May’s growth was the strongest since April, 2010.

There was a $2.37 billion trade surplus in May, the highest in six months. The poll had expected a $2.30 billion surplus and April’s surplus was $2.19 billion.

https://www.channelnewsasia.com/news/business/indonesian-exports imports-surge-in-may-15017706

 

Category: Indonesia

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