Indonesia’s exports, imports continue to increase in March
The data showed that the country’s exports climbed by 23.5% in March on a yearly basis, faster than the estimates of an increase of 12%, and by 15.6% month-on-month. This was the sixth consecutive month the country’s exports increased.
The annual rise in exports was mainly driven by an increase in sales of non-oil and gas products by 24% and of oil and gas products by 19.4%.
Similarly, imports increased by 18.20% year on year, more than the expectations of a rise of 8.7%, while it was up by 17.6% on a monthly basis. The annual growth of imports was the highest recorded since February 2012.
The rise in imports was mainly driven by an increase in consumption goods by 58.2%, in capital goods by 18.8% and in raw material by 13.3%.
According to the data, the country’s exports reached $14.59 billion in March while imports climbed to $13.36 billion. The data also showed that the trade surplus of the country stood at $1.23 billion in March.
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