According to a Reuters poll conducted between April 16 and April 19, Indonesia's trade surplus expanded in March as imports eased following a period of heightened demand in the previous month.
Southeast Asia's largest economy had consistently recorded monthly trade surpluses for over three years, primarily driven by commodities such as coal, palm oil, and nickel. However, recent months had seen these surpluses narrow due to softer global demand.
In March, exports faced challenges amid a backdrop of weakened global demand. Analysts predicted a 9.03% contraction in exports compared to the previous year, following a decline of 9.45% in February. Concurrently, imports were expected to decrease by 1.57% year-on-year, following a significant 15.8% surge in February.
This anticipated easing in imports reflected a seasonal adjustment following increased overseas purchases by businesses ahead of the Islamic holy month of Ramadan, which commenced in early March.
Despite these challenges, Indonesia remained a significant player in the global trade landscape, leveraging its abundant natural resources to maintain a favorable trade balance.
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