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JAKARTA- Indonesia’s trade surplus shrank more than expected in November, to $3.51 billion as imports jumped to a record ahead of year-end holidays, while exports also scaled an all-time high, official data showed on Wednesday.
A Reuters poll had expected a November surplus of $4.45 billion. October’s surplus was a record $5.74 billion.
The November surplus is still large for Southeast Asia’s biggest economy, which has benefited from an export boom because of an uptrend in prices of commodities.
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“Large imports indicate an improving domestic economic condition,” said FakhrulFulvian, chief economist of Trimegah Securities.
“The optimism for the economy caused imports to rise and we hope this trend will continue towards 2022.” – Reuters
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