Indonesia posts biggest trade surplus in nearly 10 years

A business district in Jakarta, Indonesia, on Jan 5, 2020. Indonesia's economy has been growing at 5.5 per cent a year or less since 2014. PHOTO: EPA-EFE. Sketched by the Pan Pacific Agency.

JAKARTA, Nov 16, 2020, Reuters. Indonesia reported its biggest trade surplus in nearly a decade in October, larger than expected, as imports plunged, statistics bureau data showed on Monday, Bangkok Post reported.

Southeast Asia’s largest economy had a surplus of $3.61 billion last month, more than the $2.29 billion surplus expected by economists in a Reuters poll.

According to Refinitiv Eikon data, the October surplus was the biggest since December 2010.

Imports tumbled 26.93% on a yearly basis, steeper than the 18.67% fall forecast in the poll, to $10.78 billion.

Exports fell 3.29% to $14.39 billion, compared with the poll’s prediction of a 4.36% drop.

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