Indonesia Posts Trade Surplus for Fourth Straight Month in November
Jakarta Globe | December 18, 2017- Indonesia posted a trade surplus for a fourth consecutive month in November, the Central Statistics Agency, or BPS, said on Friday (15/12), although narrower than expected.
The November surplus was $130 million, the agency said, the smallest so far this year. It was supported by continued growth of commodities exports to main shipping destinations such as China and India. The median forecast in a Reuters poll was for a $920 million surplus.
Exports rose 13.18 percent in November from a year earlier, compared with the poll forecast of 13.01 percent. November exports were worth $15.28 billion.
Indonesia has had a trade surplus every month so far this year except for July.
Meanwhile, imports in November were up by 19.62 percent at $15.15 billion, beating analysts' forecast of 13.16 percent growth.
Imports in November were boosted by demand for manufacturing activities, such as machinery and raw materials, the BPS said.
The agency said it had revised up October trade data to show a $1 billion surplus, compared with the earlier estimate of $900 million.
October exports were revised up to $15.28 billion from $15.09 billion, while imports were revised up to $14.24 billion from $14.19 billion.