Indonesia swings back to trade surplus in October

17 November, 2019 12:00 AM printer

JAKARTA: Indonesia swung to a trade surplus in October due to a slower-than-expected drop in exports, despite weak global trade amid the US-China trade war, data from the statistics bureau showed on Friday.

Southeast Asia’s largest economy recorded a trade surplus of US$161.3 million in October, the data showed, compared with the median forecast in a Reuters poll for a deficit of US$280 million, report agencies.

In recent months, Indonesia had been swinging back and forth from posting small deficits to small surpluses. In September, it had a deficit of US$164 million while in August a surplus of US$112 million.

Satria Sambijantoro, economist at Bahana Sekuritas in Jakarta, said the October data looked “impressive” amid sluggish global trade and the protracted US-China trade war.