Indonesian exports, imports surge in May

Indonesian exports, imports surge in May

In this file photo taken on Aug 20, 2015, a shipment of about 500 Toyota vehicles, transported by cargo from the Toyota manufacturing plant in Jakarta, arrive at Surabaya port in eastern Java for distribution to their local outlets. (AFP)
In this file photo taken on Aug 20, 2015, a shipment of about 500 Toyota vehicles, transported by cargo from the Toyota manufacturing plant in Jakarta, arrive at Surabaya port in eastern Java for distribution to their local outlets. (AFP)

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.

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