JAKARTA : Indonesia posted a larger-than-expected trade surplus last month, as imports unexpectedly contracted on a yearly basis while exports slowed, official data showed on Thursday.
November imports were down 1.89 per cent on a yearly basis to $18.96 billion, compared with a prediction of a 7 per cent increase in a Reuters poll. Southeast Asia's largest economy booked a $5.16 billion surplus in November, compared with the poll's median forecast of a $4.26 billion surplus. Exports were worth $24.12 billion, up 5.58 per cent on a yearly basis, the slowest increase since October, 2020 and below the poll's 9.50 per cent growth forecast.
Riding on high global commodity prices this year, Indonesia has enjoyed an export boom. However, export growth has been slowing since June amid moderating prices of commodities like palm oil, nickel and iron ore.The value of exports for the January-November period, at $268.18 billion, surpassed the country's highest record for annual shipments, which was reached last year at $231 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korea unemployment rate edges up in NovSEOUL : South Korea's unemployment rate edged up in November, with the annual increase in employed people hitting the smallest in a year, government data showed on Wednesday.The country's seasonally adjusted unemployment rate stood at 2.9 per cent in November, compared with 2.8 per cent in October and a r
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japan Nov exports up 20% yr/yr, overwhelmed by hefty imports -MOFTOKYO : Japan's exports rose 20 per cent in November from a year earlier but imports outpaced shipments, resulting in a 16th straight month of trade deficits, Ministry of Finance (MOF) data showed on Thursday.The rise in exports matched a 19.8 per cent gain expected by economists in a Reuters poll. It fol
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China Nov daily crude throughput rises to one-year highSINGAPORE : China's daily crude oil throughput rose to a one-year high in November, official data showed on Thursday, as refiners churned out more fuel for exports and two greenfield plants started up.Refinery output came in at 59.61 million tonnes last month, according to the National Bureau of Statistic
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China Nov steel output slips 6.5% on month - stats bureauBEIJING : China's November steel output fell 6.5 per cent from the previous month, official data showed on Thursday, as some steelmakers were forced to cut production to meet capacity control targets.The world's top steelmaking country produced 74.54 million tonnes of the metal last month, according to da
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China Nov aluminium output rises as power controls easeBEIJING : China's primary aluminium production in November climbed 9.4 per cent from a year earlier as looser power restrictions allowed some regions to ramp up output and as new smelters started operation.The world's top aluminium producer churned out 3.41 million tonnes of primary aluminium last month,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China daily oil throughput rises to one-year high in NovSINGAPORE :China's daily crude oil throughput rose to a one-year high in November, official data showed on Thursday, as refiners churned out more fuel for exports and two greenfield plants started up.Refinery output came in at 59.61 million tonnes last month, according to the National Bureau of Statistics (NB
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »