Indonesia’s March trade surplus beats estimates, posting its largest in over a year

[JAKARTA] Indonesia recorded a significant trade surplus of US$4.47 billion in March, the largest in 13 months, surpassing expectations due to an unexpected decline in imports, the statistics bureau announced on Monday (Apr 22).

The trade surplus significantly exceeded the projections of 22 economists surveyed by Bloomberg, who had forecast that it would reach US$1.13 billion. It also marked a significant leap from February’s trade surplus of US$833.5 million.

Monthly exports saw an uptick, fuelled by rising demand from China following the long Chinese New Year festivities, said Amalia Adininggar Widyasanti, the acting head of the bureau.