Indonesian exports, imports surge in May

• Jun 15, 2021

JAKARTA: Indonesia’s export growth shot up on a yearly basis to an 11-year high in May, supported by high commodity prices and a low base effect, while imports also jumped as domestic demand rose, official data showed on Tuesday.

Exports rose 58.76% to $16.60 billion, the biggest increase since January of 2010 due to a strong rise in shipments of oil and gas and mining products. This compared with a 57.49% rise expected in a Reuters poll and April’s 51.94% growth

Imports were $14.23 billion, up 68.68% from last year, higher than the poll’s 65% growth forecast and April’s 29.93% rise. May’s growth was the strongest since April, 2010.

There was a $2.37 billion trade surplus in May, the highest in six months. The poll had expected a $2.30 billion surplus and April’s surplus was $2.19 billion.

Source: https://www.bangkokpost.com/business/2132711/indonesian-exports-imports-surge-in-may