JAKARTA: Indonesia’s trade surplus narrowed to $2.91 billion in March, smaller than expected, as its exports and imports beat forecasts, official data showed on Monday.
A Reuters poll had expected a surplus of $3.99 billion in March.
The resource-rich country booked a surplus of $5.46 billion in February, according to a revised figure provided by the statistics bureau.
Indonesia saw its exports rise to a record high last year on high global commodity prices, but shipments have gradually slowed as prices moderate.
Exports in March dropped 11.33% on a yearly basis to $23.5 billion, less than the 15% fall forecast in the poll, and compared with a revised February growth of 4.44%.
Indonesia posts 2022 current account surplus on commodity boom
That still marked the sharpest annual fall since May 2020.
Imports were worth $20.59 billion, down 6.26% from the same month last year, but a smaller drop than the 14.45% decline seen in the poll. Imports fell 4.32% in February.