JAKARTA (Reuters) – Indonesia is expected to post its largest trade surplus in six months of $ 2.3 billion in May, with exports and imports surging amid high commodity prices and a recovery in world trade, showed a Reuters poll on Friday.
Southeast Asia’s largest economy has posted a trade surplus every month since May 2020, as shipments were boosted by high commodity prices and trading partners eased coronavirus-related restrictions, while the recovery of imports was slower due to weak domestic demand.
The surplus in April was $ 2.19 billion.
Eleven economists in the survey expected exports to increase 57.49% annually in May, outpacing April’s rise of 51.94%, while imports rose 65% in May, compared to a 29.93% increase in last month.
“These high increases tend to be caused by last year’s low base effect because last year’s trading volume was very low at the beginning of the pandemic,” said Josua Pardede, an economist at Bank Permata.
Joshua predicted that the resource-rich country will continue to run trade surpluses for some time due to high commodity prices.
(Survey by Nilufar Rizki and Tabita Diela; Editing by Gayatri Suroyo, Martin Petty)
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