JAKARTA- Indonesia’s trade surplus is expected to have narrowed in April as imports rose amid celebrations for the Islamic holiday of Eid al-Fitr, a Reuters poll showed on Tuesday.
The poll, which surveyed 19 economists between May 8 and May 14, indicated a trade surplus of $3.30 billion last month, compared with $4.47 billion in March, when it recorded a higher-than-expected surplus due to shrinking imports.
Southeast Asia’s largest economy has been enjoying monthly trade surpluses since mid-2020 due to strong exports of its main commodities such as coal, palm oil and nickel, but they have been narrowing due to weakening global demand.
Both exports and imports were expected to rise in April, reversing the contractions reported in March.
Economists in the poll predicted April exports grew by 4.57 percent on an annual basis, after contracting 4.19 percent in the previous month.
Imports were seen rising by 8.68 percent year-on-year after shrinking 12.76 percent in March.
Indonesia reported a $4.47 billion trade surplus in March, data from the statistics bureau showed, larger than a forecast surplus of $1.13 billion in a Reuters poll as imports fell more than expected.
