Financial News: Indonesia Trade Surplus Shrinks In August

Indonesia Trade Surplus Shrinks In August

09/17/2024 - 04:08:00 (RTTNews)

(RTTNews) - Indonesia's foreign trade surplus decreased in August from a year ago as imports grew faster than exports, figures from Statistics Indonesia showed on Tuesday.

The trade surplus dropped to $2.90 billion in August from $3.12 billion in the same month last year. In July, the surplus was $0.5 billion.

Exports climbed 7.13 percent year-over-year in August versus an expected rise of 3.83 percent.

Data showed that imports grew by 9.46 percent from last year, faster than the 8.15 percent expected by economists.

On a monthly basis, exports showed growth of 5.97 percent, while imports fell by 4.93 percent.

Of the ten commodities with the largest non-oil and gas export values in August 2024, most commodities experienced an increase, the agency said.

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