Indonesia seen posting $2.67bn trade surplus in Nov
- The median forecast of 14 analysts in the poll was for a November trade surplus of $2.67 billion, below October's $3.61 billion - the highest in nearly a decade.
JAKARTA: Indonesia was seen posting another sizable trade surplus in November, albeit smaller than the previous month, as exports continued to recover while imports plunged, a Reuters poll showed on Monday.
Southeast Asia's largest economy in the first 10 months of the year had recorded a $17.07 billion surplus, as a recovery in China from the coronavirus-induced economic slump helped its exports rebound, while weak demand at home kept imports low.
The median forecast of 14 analysts in the poll was for a November trade surplus of $2.67 billion, below October's $3.61 billion - the highest in nearly a decade.
Exports were seen up 2.66% on a yearly basis, bouncing back from a 3.29% shrinkage the previous month. Meanwhile, imports were seen plummeting 24.52%, following October's 26.93% slump.
Exports were likely helped by higher prices of commodities such as crude palm oil and coal, brokerage Mandiri Sekuritas said in a note.
"External demand may have also been solid amid resilient manufacturing PMI in main trade partners, particularly China and the US."
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