FX.co ★ Indonesia Trade Surplus Shrinks In August

Indonesia's trade surplus narrowed in August compared to the same period last year as imports outpaced exports, according to data released by Statistics Indonesia on Tuesday.

The trade surplus fell to $2.90 billion in August, down from $3.12 billion in the corresponding month of the previous year. For comparison, July's surplus was significantly lower at $0.5 billion.

August's exports increased by 7.13 percent year-over-year, surpassing the anticipated growth of 3.83 percent.

Conversely, imports surged by 9.46 percent from the previous year, exceeding economists' expectations of an 8.15 percent rise.

Month-over-month, exports grew by 5.97 percent, whereas imports declined by 4.93 percent.

Among the top ten non-oil and gas export commodities in August 2024, most experienced growth, as reported by the agency.