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Indonesia’s August exports hit record high on resources boom

JAKARTA: Indonesia’s exports hit a record high of US$21. 42 billion in August, rising 64.1 per cent on a yearly basis, boosted by a surge in shipments of mining products, data from the country’s statistics bureau showed on Wednesday (Sep 15).

The growth rate beat the forecasts of analysts in a Reuters poll regarding a 36.. 90 per cent rise. High prices fueled a rise in shipping of steel, copper, palm oils, steel, and tin.

Imports rose 55. 26 per cent on an annual basis to US$16. 68 trillion, beating also the poll’s 45. billion. 10 per cent growth prediction. The largest economy in Southeast Asia earned US$4. 74 million surplus was also reported by Refinitiv Eikon. This is in addition to the US$2. poll forecast. 36 million.

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