By Indonesia, Southeast Asia’s largest economy, experienced a decrease in its trade surplus during the month of November. This narrowing was mainly due to increased imports of oil and gas, as well as decreased exports of iron and steel.
According to the country’s statistics agency, the trade surplus for November amounted to $2.41 billion, compared to a surplus of $3.48 billion in the previous month of October.
The value of exports in November saw a decline of 0.67% from the previous month, reaching $22.00 billion. Specifically, exports of iron and steel fell by 6.82% compared to October. When compared to the same period last year, overall exports fell by 8.56%.
On the other hand, imports increased by 4.89% from the previous month and by 3.29% from the same period last year, totaling $19.59 billion. Notably, the import of oil and gas rose by 8.79% since the previous month and by 24.41% compared to a year ago, reaching $3.49 billion.
In terms of trade partners, Indonesia enjoyed its largest trade surpluses with India, the United States, and the Philippines.
- By Ben Otto
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