Indonesia exports, imports grow the best in October
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