Indonesian exports, imports surge in May
published : 15 Jun 2021 at 11:59
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.