JAKARTA: Indonesia posted an unexpectedly large $4.42 billion trade surplus in November, double the figure expected by analysts as exports jumped and imports came in below market forecasts, official data showed on Monday.
The trade data is among a host of economic indicators the central bank will consider at its monetary policy review on Wednesday, with analysts expecting it to leave key rates unchanged.
The rupiah strengthened slightly after the trade data, but remained near four-month lows against the dollar.
The November surplus was the biggest since March and compared with a forecast surplus of $2.21 billion in a Reuters poll of analysts.
The October surplus was revised up slightly to $2.48 billion.
Exports rose 9.14% in November from a year earlier to $24.01 billion, well above a poll forecast of 4.92%, boosted by shipments of agriculture and manufactured products, such as cocoa butter and powder.
Indonesia’s exports, imports beat forecasts, trade surplus less than expected
However, shipments of top commodities such as coal fell 4.4% from a year earlier, and palm oil shipments were up by only 2.2%.
Imports were flat at $19.59 billion, against an expected rise of 6.15%.
The value of shipments of top products such as machinery, electronics and steel all contracted.
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