JAKARTA: Indonesia’s exports and imports contracted on a yearly basis in September, the statistics bureau said on Monday, against expectations for import growth.
The bureau said Indonesia imported US$11.30 billion of products in September, 2.26% down from a year ago. A Reuters poll had expected a 3.76% increase for imports. Exports in September were US$12.51 billion, 0.59% lower than the same month last year, versus the poll’s median for a 1.61% decline.
The trade balance in September was a US$1.22 billion surplus, compared to August’s revised US$360 million and the poll’s median forecast of US$450 million. Low commodity prices have for years hurt Indonesia’s export earnings, government revenue, company profits and people’s purchasing power.