Asia

Indonesia's August exports hit record high on resources boom

Workers are seen on a ship carrying containers at Tanjung Priok Port in Jakarta, Indonesia, January 11, 2021. Picture taken January 11, 2021. REUTERS/Willy Kurniawan

JAKARTA (Reuters) – Indonesia’s exports hit a record high of $21.42 billion in August, rising 64.1% on a yearly basis, boosted by a surge in shipments of mining products, data from the country’s statistics bureau showed on Wednesday.

The growth pace handily beat an analysts’ forecast in a Reuters poll for a 36.90% 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% on an annual basis to $16.68 billion, also beating the poll’s 45.10% growth prediction. Southeast Asia’s biggest economy booked a $4.74 billion surplus last month – also the highest from data complied by Refinitiv Eikon and compared with the poll’s forecast of $2.36 billion.

Source: Read Full Article