Indonesia Dec trade surplus at $1 bln, well below forecast – Reuters

Indonesia Dec trade surplus at $1 bln, well below forecast – Reuters

JAKARTA, Jan 17 (Reuters) - Indonesia's trade surplus narrowed more than expected in December to $1.02 billion, the lowest in 20 months, as a surge in exports driven by commodities slowedand imports hit a record high, official data showed on Monday.

Southeast Asia's largest economy has been reporting a trade surplus every month since May, 2020, as the coronavirus pandemic supressed local demand while exports rode a boom in prices of commodities like coal, palm oil, copper, tin, steel and rubber.

The December surplus was about a third of the $3.13 billion forecast by economists polled by Reuters and was also much smaller than the $3.51 billion recorded in November.