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Indonesia's Exports Surge More Than Forecast

Indonesia's exports grew at a faster-than-expected pace in May, data published by the Central Statistical Agency showed Thursday.

Exports surged 24.08 percent year-over-year in May, well above the 15.65 percent spike economists had expected.

Similarly, imports climbed 24.03 percent in May from a year ago, much faster than the expected growth of 9.9 percent.

On a monthly basis, both exports and imports rose by 7.62 percent and 15.67 percent, respectively in May.

The trade surplus fell notably to $0.47 billion in May from $1.24 billion in April. The expected surplus for the month was $1.1 billion.

by RTT Staff Writer

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