Indonesia’s Trade Surplus Reach of $2.89 Billion in August

Indonesia's trade surplus rose to a three-month high in August 2024, as exports grew much faster than expected, official data showed today. According to Statistics Indonesia, the country reported a surplus of $2.89 billion in August. The surplus was the biggest since May. Exports in August grew 7.13% on a yearly basis to $23.56 billion. The pace of the August export rise was the quickest since January 2023. Imports were worth $20.67 billion, up 9.46% from a year earlier. Indonesia is the worlds biggest exporter of thermal coal, palm oil and nickel metals, and a major exporter of several other commodities. Shipments from the country have risen in annual terms each month since April, recovering after a year where exports values had posted some sharp falls following the peak of a post-pandemic commodity price boom. Source: Oman News Agency