Indonesia books larger-than-expected US$4.3 billion trade surplus in March

[JAKARTA] Indonesia recorded an unexpected trade surplus in March, driven by a notable increase in iron and steel exports, according to data released by the country’s statistics agency on Monday (Apr 21).

South-east Asia’s largest economy posted a trade surplus of US$4.3 billion in March – its highest in four months and nearly double the US$2.6 billion forecast by analysts in a Reuters poll.

While the trade surplus provides a welcome boost to foreign-exchange reserves, analysts warn that maintaining such surpluses may be challenging for Indonesia, particularly with the ongoing pressure on the rupiah.