Indonesia posts trade surplus in January; exports, imports fall

[JAKARTA] Indonesia's trade balance moved back into surplus in January, confounding expectations for a third monthly deficit, due largely to a slump in imports, data from the statistics bureau showed on Monday.

The trade surplus in January was US$0.05 billion versus a revised deficit of US$0.16 billion in December. Economists polled by Reuters had expected a US$360 million deficit.

Exports fell 20.72 per cent from a year earlier to US$10.50 billion in January, the weakest shipment by value since September 2009, as exports of oil and gas slumped. January was also the 16th consecutive month of export decline.

Meanwhile, imports fell 17.15 per cent to US$10.45 billion in January, also down for a 16th straight month.

REUTERS