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Indonesia's June trade data beat forecasts, exports grow for first time in 4 months
[JAKARTA] Indonesia's June exports and imports beat forecasts, signalling improving demand after many countries eased coronavirus-induced restrictions, data from the statistics bureau showed on Wednesday.
June exports were up 2.28 per cent on a yearly basis to US$12.03 billion, the first expansion in four months, propped up by increased shipments of agricultural and manufactured goods. The poll had forecast a 12.26 per cent fall.
Imports fell 6.36 per cent on-year in June to US$10.76 billion, compared with the poll's expectation for a 18.70 per cent drop. Imports of consumer goods surged nearly 40 per cent, although purchases of raw materials remained weak.
Southeast Asia's largest economy had a US$1.27 billion surplus in June, compared with US$1.1 billion forecast in a Reuters poll and May's US$2.09 billion surplus.