Indonesia’s trade surplus rises sharply in June – coal exports to Europe and palm oil exports surge

Indonesia reported a better-than-expected trade balance in June, with a surplus of $5.09 billion compared with a forecast of $3.52 billion. The previous month, the trade surplus had been $2.9 billion.

Official data show that coal exports to Europe have increased by 143% compared to the previous quarter.

But exports of palm oil have also surged following the export ban earlier this year. Palm oil exports totaled $2.74 billion with increasing exports to India, Pakistan, Bangladesh, and China. Palm oil prices have risen sharply this year after an export ban in April sent prices up more than 860%.

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