A tug boat is seen docking at Tanjung Priok Port in Jakarta, Indonesia, January 11, 2021. Picture taken January 11, 2021. REUTERS/Willy Kurniawan
Sept 14 (Reuters) – Indonesia’s exports and imports likely continued to surge in August, driven by high prices of the country’s main commodities like coal and palm oil, a Reuters poll showed on Tuesday.
A survey of 18 economists forecast the economy’s August trade surplus had shrunk to $2.36 billion from $2.59 billion in July.
Southeast Asia’s biggest economy has been enjoying an export boom on the back of robust commodity prices, allowing for a trade surplus every month since May of 2020.
Economists expected 36.9% annual growth in August exports, accelerating from 29.32% in the previous month. August imports were seen rising 45.1% on a yearly basis, compared with 44.44% in July.
Some economists have said high commodity prices and a global economic recovery will likely allow resource-rich Indonesia to book big export earnings for the remainder of the year.
However, with the country relaxing some COVID-19 curbs since August, analysts also expect imports to rise.Polling by Md. Manzer Hussain and Vivek Mishra in Bengaluru; Writing by Gayatri Suroyo in Jakarta Editing by Ed Davies
Our Standards: The Thomson Reuters Trust Principles.
HALIFAX, NOVA SCOTIA — As Halifax confronts one of the most pressing housing shortages in…
PARIS, FRANCE — Servair, a member of gategroup, is once again reaching for the stars.…
Sale hailed as major sign of confidence in city’s real estate market and security in UAE …
By Daniel Welinder, Head of Aircraft Management and Sales at Jet Agent The acquisition of…
COPENHAGEN, DENMARK — DeCarbon Copenhagen 2026 will convene Europe’s biomass, carbon markets and digital infrastructure…
LONDON, UNITED KINGDOM — Parabellum Investments has announced the sale of business process outsourcing (BPO)…