Indonesia’s trade surplus fell in July due to decline in commodity exports

According to the Indonesian Bureau of Statistics, Indonesia’s trade surplus fell to $4.2 billion in July from $5.09 billion in June. This is attributed to the decline in commodity exports.

The figures are in contrast to analysts’ expectations, who had expected Indonesia to post a trade surplus of $3.80 billion in July.

Indonesian exports fell 2.2% in July from the previous month, due to a decline in exports of petroleum and processed products.

Meanwhile, export prices of key commodities such as crude palm oil and nickel also declined.

Year-on-year, Indonesian exports increased by 32% in July, mainly due to an increase in non-oil and gas exports.

Imports rose 1.6% month-on-month to $21.35 billion in July, led by higher commodity imports, and year-on-year imports rose 39.9% in July.

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