Indonesia's foreign trade surplus increased more-than-expected in May, as imports fell at a steeper rate than exports, figures from Statistics Indonesia showed Monday.
The trade surplus increased to $950 million in May from $50 million in the same period of the previous year and the $480 million recorded for April. Economists had forecast the surplus to rise to $700 million.
Exports plunged 15.24 percent year-over-year in May, more than the 8.1 percent decline expected by economists. Oil and gas exports dropped 42.32 percent but non-oil exports fell a more modest 10.07 percent.
Imports tumbled 21.40 percent annually in May, much faster than a 11.8 percent decrease expected by the economists. Oil and gas imports dropped 43.87 percent and non-oil imports fell 13.87 percent.
On a monthly basis, exports declined 4.11 percent in May and imports slid by 8.05 percent.
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