Indonesia's July trade surplus widens as export, import growth slows

[JAKARTA] Indonesia's trade surplus widened slightly more than expected in July as growth in exports and imports slowed, data from the statistics bureau showed on Wednesday, as the country imposed mobility restrictions to control a spike in Covid-19 cases.

Exports grew 29.32 per cent on a yearly basis to US$17.70 billion, the lowest rise since February and compared with a 30.2 per cent growth rate expected in a Reuters poll. Shipments fell on a monthly basis due to seasonal patterns, but high coal and palm oil prices continued to support exports.

Imports expanded 44.44 per cent from a year earlier to US$15.11 billion, compared with the poll's forecast of a 52.15 per cent rise. The July trade surplus was US$2.59 billion, versus the poll's estimate of US$2.27 billion and June's US$1.32 billion surplus.

The export growth rate in June was 54.46 per cent, while import growth was 60.12 per cent.

REUTERS