Indonesia Books Bigger Than Expected January Trade Surplus

TRADE BALANCE - JAKARTA. Indonesia posted a January trade surplus of $3.87 billion, beating forecasts, as exports expanded more than expected, data from the statistics bureau showed on Wednesday.

A Reuters poll had expected a surplus of $3.35 billion. The resource-rich country booked a surplus of $3.89 billion the previous month.

Exports grew 16.37% in January from a year earlier to reach $22.31 billion, compared with a Reuters poll prediction of 12.5% growth.

Imports were 1.27% higher than a year earlier, at $18.44 billion. The poll had expected 1.5% growth.

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Southeast Asia's largest economy last year booked record high annual exports on the back of high commodity prices. Prices of its top commodities, such as palm oil and coal, have since come down.