JAKARTA (TheInsiderStories) – Indonesia posted $1.09 billion trade surplus in March, which was the biggest surplus in the last six months, as imports growth slowed more than expected, data from the statistics bureau showed on Monday (16/04).
March exports were reported at $15.58 billion, which was 6.14 percent higher than the same period last year. The pace was actually weaker than February’s 12.04 percent.
The statistics bureau cited a drop in oil and gas exports contributed to the slower exports.
Meanwhile, the country’s imports stood at $14.9 billion, or growing 9.07 percent annually, decelerating from February’s 24.94 percent. The bureau cited a slowdown in shipments of consumer goods as the main contributor.
China, the United States and Japan were the three top importing countries of Indonesia’s non-oil and gas products, contributing 37.78 percent to the total Indonesian export value.
Indonesia had a trade deficit of $50 million in February.
Written by Elisa Valenta, email: email@example.com