Indonesia swings back to trade surplus in October: stats bureau

[JAKARTA] Indonesia posted a surprise swing to a trade surplus in October due to a slower-than-expected drop in exports, data from the statistics bureau showed on Friday.

Southeast Asia's largest economy recorded a trade surplus of US$161.3 million in October, the data showed, compared with the median forecast in a Reuters poll of a deficit of US$280 million.

Indonesia had a trade deficit of US$164 million in September, and a surplus of US$112 million in August.

Exports in October amounted to US$14.93 billion, down 6.13 per cent on-year, as shipments of oil and gas dove 40%. The poll had expected an 8.38 per cent drop in the overall exports.

October imports dropped 16.39 per cent annually, the sharpest in five months, to US$14.77 billion. The drop was roughly in line with the poll's prediction of a 16 per cent fall.

REUTERS