Indonesia's July trade surplus narrows more than expected
Reuters
Published Aug 15, 2023 12:36AM ET
By Stefanno Sulaiman and Gayatri Suroyo
JAKARTA (Reuters) - Indonesia's trade surplus shrank more than expected in July to $1.31 billion, as imports contracted less than predicted, data from the statistics bureau showed on Tuesday.
A Reuters poll of economists had expected a July surplus of $2.53 billion. Trade surplus in the previous month was $3.46 billion.
Southeast Asia's largest economy booked its biggest ever trade surplus last year as exports jumped, driven by a global commodity boom.
The surplus has narrowed this year as exports declined amid falling commodity prices.
Shipments from Southeast Asia's largest economy plunged 18.03% on a yearly basis in July to $20.88 billion, roughly in line with the poll's prediction of an 18.30% drop, as prices of its top commodities like coal and palm oil fell.
Imports dropped 8.32% on a yearly basis to $19.57 billion, compared with the 15.50% fall predicted by economists in the poll.
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Written By: Reuters
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