JAKARTA ― Indonesia’s trade surplus narrowed in June to its smallest in four months, as exports rose less than expected amid strong import growth, data from the statistics office showed on Monday.
The June surplus was $2.39 billion, falling short of economists’ median forecast of $2.98 billion in a Reuters survey and May’s revised surplus of $2.92 billion.
June exports rose 1.17 percent on a yearly basis to $20.84 billion, less than the 5.46 percent expected in the Reuters poll.
The value of shipments from Indonesia, the biggest economy in southeast Asia, has gradually declined from its peak in 2022 during a global commodity boom, amid softening prices.
Statistics Indonesia said global prices of energy, agriculture and metal have recovered since.
However, a drop of 16 percent in June shipments of mining products, dampened overall export growth, which included falling exports of coal and steel.
Imports were worth $18.45 billion, up 7.58 percent on a yearly basis, compared with the poll forecast of 6.55 percent.
Be the first to comment