Indonesia posts US$3.36 billion trade surplus in September

INDONESIA’S trade surplus narrowed to US$3.36 billion in September, official data showed on Monday (Nov 2), still much higher than the US$1.9 billion surplus forecast in a Reuters poll.

South-east Asia’s largest economy posted a US$3.55 billion trade surplus a month earlier.

Resource-rich Indonesia has benefited from rising prices of some of its top commodity exports this year, with some gains driven by rising global crude prices caused by the Middle East conflict. However, as a net oil importer, its import bills have also soared.

Exports rose 11.87 per cent on a yearly basis in September to US$27.59 billion, supported by shipments of processed palm oil, nickel and aluminium. A Reuters poll of analysts had expected a 6.45 per cent increase.

Imports increased 18.41 per cent to US$24.23 billion, compared with the poll forecast of a 20.83 per cent surge. REUTERS