Indonesia August Trade Surplus at $3.12 Billion, Bigger than Expected

September 15, 2023, 09.49 AM | Source: Reuters
Indonesia August Trade Surplus at $3.12 Billion, Bigger than Expected

ILUSTRASI. Indonesia posted an August 2023 trade surplus of $3.12 billion

TRADE BALANCE - JAKARTA. Indonesia posted an August trade surplus of $3.12 billion, roughly double the expected amount, as the drop in imports was larger than forecast, data from the country's statistics bureau showed on Friday.

A median forecast of 19 economists surveyed by Reuters had put Southeast Asia's biggest economy down as booking a surplus of $1.55 billion in August, versus $1.31 billion in July.

Imports in August dropped 14.77% to $18.88 billion, compared to the 9.33% drop expected by analysts, led by declines in the purchase of raw materials and capital goods.

Read Also: Indonesia August Exports Down 21.21% y/y - Stats Bureau

Indonesia's exports dropped 21.21% annually in August to $22 billion, slightly better than the 22% decline expected.

Exports fell amid weaker prices for top commodities like coal, palm oil and natural gas compared a year earlier.

 

Editor: Anna Suci Perwitasari
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