In­done­sia ex­ports, im­ports grow the best in Oc­to­ber

The Sun (Malaysia) - - SUNBIZ -

JAKARTA: In­done­sia’s ex­ports and im­ports both in­creased in Oc­to­ber af­ter months of de­te­ri­o­ra­tion from a year ear­lier, the statis­tics bureau said yes­ter­day.

A Reuters poll had fore­cast growth for both ex­ports and im­ports, fol­low­ing a long pe­riod in which both shrank on an an­nual ba­sis.

The bureau said In­done­sia ex­ported US$12.68 bil­lion (RM54.9 bil­lion) of prod­ucts in Oc­to­ber, up 4.6% from a year ago, against the 4.29% growth ex­pected in the poll.

Oc­to­ber’s pace of growth was the strong­est since Au­gust 2014.

Im­ports were US$11.47 bil­lion, up for the first time in 25 months, by 3.27%, and also the strong­est since Au­gust 2014. The poll had fore­cast an in­crease of 4.9%.

Oc­to­ber’s trade sur­plus was US$1.21 bil­lion, slightly smaller than Septem­ber’s re­vised US$1.27 bil­lion.

Low com­mod­ity prices have hurt In­done­sia’s ex­port earn­ings for years, in turn af­fect­ing ev­ery­thing from com­pany prof­its, gov­ern­ment rev­enue and peo­ple’s pur­chas­ing power. – Reuters

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