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Indonesia’s July trade surplus narrows more than expected

CNA – Indonesia’s trade surplus shrank more than expected in July to USD1.31 billion, as imports contracted less than predicted, data from the statistics bureau showed yesterday.

A poll of economists had expected a July surplus of USD2.53 billion. Trade surplus in the previous month was USD3.46 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 per cent on a yearly basis in July to USD20.88 billion, roughly in line with the poll’s prediction of an 18.3 per cent drop, as prices of its top commodities like coal and palm oil fell.

Imports dropped 8.32 per cent on a yearly basis to USD19.57 billion, compared with the 15.5 per cent fall predicted by economists in the poll.

PHOTO: CNA
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