Indonesia's surplus sinks to 5-year low

Indonesia posted its smallest trade surplus in more than five years on signs importers are stocking up on goods from China and other key trading partners to mitigate the risks of rising global tariffs.

- GRACE SIHOMBING

The surplus narrowed to $159 million in April, its smallest since October 2019 and far below a median estimate of $2.8 billion in a Bloomberg survey of analysts.

Imports into Southeast Asia's largest economy jumped by 22% year-on-year to $20.59 billion in the month, helped by increases in capital goods, raw materials and consumer goods, according to Indonesia’s statistics agency yesterday. Exports rose just 5.8% to $20.76 billion, with higher shipments of coffee and basic metals helping to offset a 21% drop in mining exports that was partly caused by weaker coal shipments.