Indonesia’s foreign trade balance turned to a surplus in August from a deficit in the previous year, as imports fell faster than exports, figures from Statistics Indonesia showed Tuesday.
The trade balance balance showed a surplus of $0.43 billion in August versus a deficit of $0.31 billion in the corresponding month of the previous year. Economists had expected a 0.78 billion surplus for the month. In July, the surplus was $1.39 billion.
Exports fell 12.28 percent year-over-year in August, but slower than the 17.65 percent decline expected by the economists.
Imports plunged 17.06 percent in August from the preceding year.The expected rate of decrease was 23.29 percent.
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