Indonesia August Exports Down 21.21% y/y - Stats Bureau

MACROECONOMICS - JAKARTA. Indonesia's exports dropped 21.21% annually in August to $22 billion, slightly better than expected, data from the country's statistics bureau showed on Friday.

Analysts polled by Reuters had expected a 22% drop in August's exports.

Exports dropped amid weaker prices of top commodities like coal, palm oil and natural gas compared to the same month last year.

The value of coal exports dropped nearly 50% year-on-year while exports of palm oil dropped 35% from last year.

Read Also: SoftBank's Arm Soars Nearly 25% in Market Debut to $65 Billion Valuation

A median forecast of 19 economists surveyed showed Southeast Asia's biggest economy booking a surplus of $1.55 billion in August, versus $1.31 billion in July.

The statistics bureau is due to release import and trade balance data later on Friday.