Indonesia's August exports hit record high on resources boom
Indonesia's exports hit a record high of US$21.42 billion in August, rising 64.1 per cent on a yearly basis, boosted by a surge in shipments of mining products, data from the country's statistics bureau showed on Wednesday (Sep 15).
The growth pace handily beat an analysts' forecast in a Reuters poll for a 36.90 per cent rise. Shipments of coal, copper, palm oil, steel and tin all jumped on a yearly basis, boosted by high prices.
Imports were up 55.26 per cent on an annual basis to US$16.68 billion, also beating the poll's 45.10 per cent growth prediction. Southeast Asia's biggest economy booked a US$4.74 billion surplus last month - also the highest from data complied by Refinitiv Eikon and compared with the poll's forecast of US$2.36 billion.