JAKARTA: Indonesia’s export growth shot up on a yearly basis to an 11-year high in May, supported by high commodity prices and a low base effect, while imports also jumped as domestic demand rose, official data showed on Tuesday (Jun 15).
Exports rose 58.76 per cent to US$16.60 billion, the biggest increase since January of 2010 due to a strong rise in shipments of oil and gas and mining products. This compared with a 57.49 per cent rise expected in a Reuters poll and April’s 51.94 per cent growth
Imports were US$14.23 billion, up 68.68 per cent from last year, higher than the poll’s 65 per cent growth forecast and April’s 29.93 per cent rise. May’s growth was the strongest since April, 2010.
There was a US$2.37 billion trade surplus in May, the highest in six months. The poll had expected a US$2.30 billion surplus and April’s surplus was US$2.19 billion.
Source: Reuters
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