Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Indonesia posts bigger-than-expected trade surplusThursday, April 16, 2015 > 10:42:40
Indonesia posted a higher-than-expected trade surplus of US$1.13 billion in March, the fourth consecutive month that Southeast Asia's biggest economy has recorded a surplus, official data showed Wednesday.
Both imports and exports fell sharply last month, the data showed. But the slowdown in imports was faster, leading to the surplus, which was about double the amount expected by economists.
It compared to a surplus of $738.3 million in February.
March exports slipped 9.75% compared to a year ago, while imports fell 13.39%.
Exports have been hit by a slowdown in demand for Indonesia's key commodities, while imports have fallen as a weakening rupiah makes shipping goods into the country more expensive.
The trade surplus should help take pressure off the current account deficit for the first quarter of the year, and also the rupiah, said Bank Permata economist Josua Pardede.
The rupiah has suffered steep falls against the dollar in recent months, as the US unit strengthens.