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Indonesia posts smaller-than-expected US$200m trade surplus in June
[JAKARTA] Indonesia recorded a narrower-than-expected trade surplus in June, as imports surprisingly rose, government data showed on Monday.
Southeast Asia's largest economy had a surplus of around US$200 million in June, the statistics bureau said. A Reuters poll had expected a US$690 million surplus. Indonesia had a surprise surplus of US$218.5 million in May.
Imports increased 2.80 per cent in June from a year earlier to US$11.58 billion, as opposed to the poll's prediction of a 5 per cent drop.
June exports were down 8.98 per cent on year to US$11.78 billion, as earnings from minerals as well as oil and gas products plunged.
Through May, Indonesian exports and imports both declined for months, in line with softer global trade amid the US-China trade war.
Statistics bureau chief Suhariyanto said long holidays at the end of the Muslim fasting month of Ramadan contributed to June's weak foreign trade.