POLL-Indonesia May trade surplus expected to reach its highest level in 6 months

Reuters: // realtime / verb = Open / url = cpurl: //apps.cp./Apps/econ-polls? RIC = IDTRD% 3DECI survey data

May exports at + 57.49% year-on-year, compared to + 51.94% in April

May imports at + 65% year-on-year, compared to + 29.93% in April

May trade surplus of $ 2.3 billion expected, up from $ 2.19 billion in April

Trade data due at 04:00 GMT on Tuesday, June 15

JAKARTA, June 11 (Reuters)Indonesia is expected to post its biggest six-month trade surplus of $ 2.3 billion in May, with exports and imports rising sharply amid high commodity prices and a recovery in world trade, a Reuters poll revealed Friday.

Southeast Asia’s largest economy has recorded a trade surplus every month since May 2020, as shipments were boosted by high commodity prices and trading partners easing coronavirus restrictions, while the resumption of imports was slower due to weak domestic demand.

The surplus in April was $ 2.19 billion.

Eleven economists in the poll expected exports to jump 57.49% on an annual basis in May, topping April’s 51.94% increase, while imports jumped 65% in May, compared with 29.93% the previous month.

“These large increases tend to be caused by the weak base effect of last year, as last year’s transaction volume was very low at the start of the pandemic,” said Josua Pardede, economist at the Bank. Permata.

Josua predicted that the resource-rich country would continue to show trade surpluses for some time due to high commodity prices.

(Poll by Nilufar Rizki and Tabita Diela; Editing by Gayatri Suroyo, Martin Petty)

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