By I Made Sentana
JAKARTA--Indonesia trade surplus soared to $1.63 billion in June from $474 million in May as imports fell faster than exports following a spike in consumer-goods imports in the earlier month, ahead of Ramadan-related festivities.
The surplus beat the median forecast of a $900 million surplus from a Wall Street Journal survey of 10 economists.
Exports totaled $11.64 billion in June, down 18.8% from a month earlier and 11.8% from the previous year, the official Central Statistics Agency said Monday. Dropping prices of crude palm oil, coal and rubber contributed to the sequential decline in exports last month, as did the smaller number of working days because of the observance of the Muslim holiday, the agency said.
Imports fell by 27.3% in June to $10.01 billion from May and by 17.2% from a year ago. The agency said consumer-goods imports decreased by 12.8% in June from May.
Exports during the January-June period rose 14.03% to $80 billion, while imports rose 9.6% to $72.33 billion, the agency said.
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(END) Dow Jones Newswires
July 17, 2017 01:11 ET (05:11 GMT)
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