Indonesia posted its biggest trade surplus in nine years in July, as exports improved while domestic demand for imports remained subdued amid the coronavirus pandemic, data from the statistics bureau showed on Tuesday.
FILE PHOTO: A tugboat sails past a container ship in Tanjung Priok Port, Jakarta, Indonesia April 16, 2018. REUTERS/Darren Whiteside
July exports grew 14.33% from June to $13.73 billion, though were 9.90% below the value of shipments in the same month last year. Still, the pace of contraction was slower than the poll’s prediction for a 16.65% drop. The data indicates the potential for a further narrowing of the current account deficit for the rest of the year, even after it significantly narrowed in the first half due to the pandemic.
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