Indonesia: Trade Surplus Hits $3.36 Billion in September as Exports Jump 11.87 Percent
Indonesia recorded a trade surplus of $3.36 billion in September, data from Statistics Indonesia (BPS) released on Monday, November 2, showed, far exceeding market expectations of $1.9 billion. Exports surged 11.87 percent year on year, significantly outperforming forecasts of 6.45 percent and accelerating from August's 6.72 percent growth.
Imports rose 18.41 percent year on year, falling short of the anticipated 20.83 percent surge and marking the softest growth rate since March. Energy imports moved in opposite directions: oil and gas imports grew 23.94 percent on higher purchases of refined oil products, while crude oil imports dropped 7.00 percent.
BPS data released the same day showed annual inflation edging down to 3.23 percent in October from September's 3.28 percent, within Bank Indonesia's target range of 1.5 to 3.5 percent. Despite the strong trade figures, the rupiah remained subdued on Monday, trading around 18,180 per US dollar in Asian hours.
Indonesia is a major exporter of commodities such as palm oil, coal, nickel and natural gas, whose earnings generate trade surpluses and foreign currency inflows; it is also a net importer of crude oil, so elevated oil prices increase its foreign exchange burden.
Source: GSM · USA (original Chinese edition)
Photo: 照片：印度尼西亚雅加达夜景，Robin Widjaja 摄，Wikimedia Commons，CC BY-SA 4.0 授权 / Photo: Jakarta skyline at night, Indonesia, by Robin Widjaja, Wikimedia Commons, CC BY-SA 4.0
