Indonesia’s trade surplus smaller than expected

Below forecast: A worker carries palm oil fresh fruit bunches in Pekanbaru, Riau. Indonesia’s exports were worth US$21.51bil (RM95.1bil), up 27% from a year earlier, compared with the 38.69% growth expected in a Reuters poll. — Reuters

JAKARTA: Indonesia’s trade surplus narrowed more than expected in May, as exports grew more slowly than predicted due to the country’s ban on palm oil shipments, data from the statistics bureau shows.

Exports were worth U$21.51bil (RM95.1bil), up 27% from a year earlier, compared with the 38.69% growth expected in a Reuters poll. Imports grew 30.74% on a yearly basis to US$18.61bil (RM82.3bil), versus the poll’s 32.80% forecast.