FX.co ★ Indonesia Trade Surplus Shrinks As Exports Plunge 21.18%

Indonesia's foreign trade surplus decreased in June from a year ago as exports fell faster than imports, figures from Statistics Indonesia showed on Monday.

The trade surplus shrank to $3.45 billion in June from $5.12 billion in the same month last year.

Economists had expected a surplus of $1.35 billion. In May, the surplus was $0.43 billion.

Exports logged a double-digit annual decline of 21.18 percent in June, versus an expected fall of 18.65 percent.

On a monthly basis, exports were 5.08 percent lower in June, while imports slumped by 19.40 percent.

Non-oil and gas exports alone decreased 21.33 percent annually in June, largely driven by the sharp fall in mineral fuel commodities.

The main country destinations of non-oil and gas exports in June 2023 were China, the US, and India.

Imports slid 19.40 percent in June compared to last year, much faster than the 7.75 percent fall economists had forecast.