The FINANCIAL — Indonesia’s trade balance swung unexpectedly to a deficit of $350 million in November from a surplus of $1.02 billion in October as rising investment boosted imports, while exports continued to decline, the official statistics agency said on December 15, according to Nasdaq.
The median forecast of 10 regional economists polled by Dow Jones Newswires was for a $740 million surplus.
The agency said Indonesia’s imports in November rose 3.6% from the previous month to $11.51 billion, but fell 18.0% from a year ago.
Imports of steel rose 17.7% from a month ago, while that of electrical machinery rose 11.7%. “Imports of these items rose because investment activity gained pace,” said Suryamin, the chairman of the agency who uses only one name.
Exports fell 7.9% from a month earlier and 17.6% from a year ago to $11.16 billion, as prices of Indonesia’s main commodities such as coal and crude palm-oil remained weak.
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