Skip to main content

Advertisement

Advertisement

Business

Indonesia Aug exports, imports seen staying strong on resources boom: Reuters poll

Indonesia's exports and imports likely continued to surge in August, driven by high prices of the country's main commodities like coal and palm oil, a Reuters poll showed on Tuesday.

A survey of 18 economists forecast the economy's August trade surplus had shrunk to US$2.36 billion from US$2.59 billion in July

Southeast Asia's biggest economy has been enjoying an export boom on the back of robust commodity prices, allowing for a trade surplus every month since May of 2020.

Economists expected 36.9per cent annual growth in August exports, accelerating from 29.32per cent in the previous month. August imports were seen rising 45.1per cent on a yearly basis, compared with 44.44per cent in July.

Some economists have said high commodity prices and a global economic recovery will likely allow resource-rich Indonesia to book big export earnings for the remainder of the year.

However, with the country relaxing some COVID-19 curbs since August, analysts also expect imports to rise.

(Polling by Md. Manzer Hussain and Vivek Mishra in Bengaluru; Writing by Gayatri Suroyo in Jakarta; Editing by Ed Davies)

Source: Reuters

Advertisement

Also worth reading

Advertisement