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Indonesia December trade surplus $1 billion

Christian Fernsby |
Indonesia's trade surplus narrowed in December to $1.02 billion, the lowest in 20 months, as a surge in exports driven by commodities slowed and imports hit a record high, official data showed.

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Topics: INDONESIA   

Southeast Asia's largest economy has been reporting a trade surplus every month since May 2020, as the coronavirus pandemic suppressed local demand while exports rode a boom in prices of commodities like coal, palm oil, copper, tin, steel and rubber.

The December surplus was smaller than the $3.51 billion recorded in November.

December imports hit a record high of $21.36 billion, up 47.93 per cent on a yearly basis as overseas purchases of everything from consumer goods to raw materials for the manufacturing industry jumped.

"This shows that economic activity is improving ... including consumption," Margo Yuwono, the head of Statistics Indonesia, told a news conference.

Meanwhile, export growth was 35.30 per cent on a yearly basis with shipments of coal to China slowing as Beijing ramped up domestic output of the fuel.

Indonesia's total shipments in December were worth $22.38 billion, the second-highest on record for monthly data after November's $22.84 billion.

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