FX.co ★ Indonesian Trade Surplus Grows In May

Indonesia's foreign trade surplus saw a notable increase in May compared to the previous year, driven by rising exports and a marked decline in imports, according to data released by Statistics Indonesia on Wednesday.

The trade surplus grew to $2.93 billion in May, up from $0.43 billion in the same month last year. In April, the surplus had been $2.72 billion.

Exports rose by 2.86 percent year-over-year in May, surpassing the anticipated increase of 0.78 percent.

Conversely, imports fell by 8.83 percent from the previous year, slightly exceeding economists' forecast of an 8.56 percent decline.

On a month-to-month basis, exports surged by 13.82 percent, while imports saw a 14.82 percent growth.

Among the top ten non-oil and gas export commodities in May, most categories experienced growth, with the most significant increase observed in electrical machinery and equipment, and parts thereof, the agency reported.