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Indonesia expected to maintain Oct trade surplus at $3 billion: Reuters poll

2023-11-14 12:25
JAKARTA Indonesia's trade surplus is seen to narrow slightly in October to $3 billion from the previous month,
Indonesia expected to maintain Oct trade surplus at $3 billion: Reuters poll

JAKARTA Indonesia's trade surplus is seen to narrow slightly in October to $3 billion from the previous month, as exports are still expected to weaken, a Reuters poll showed on Tuesday.

The poll, conducted with 19 economists between Nov. 8 and Nov. 14, showed trade surplus of $3 billion last month, compared with $3.42 billion in September.

The largest economy in Southeast Asia has seen its trade surplus weakening in recent months due to falling commodity prices and a global economic slowdown that hurts demand.

Indonesia is the world's major exporter of top commodities such as thermal coal and palm oil.

Exports were seen contracting 15.35% in October, compared with a sharper drop of 16.17% in the previous month.

Meanwhile, imports in October were seen to book a smaller contraction of 7.40% versus 12.45% drop in September.

(Polling by Milounee Purohit; Writing by Stefanno Sulaiman; Editing by Rashmi Aich)