Indonesia's exports declined sharply in July, confounding expectations for a marginal growth, data from the Central Statistics Agency revealed Monday.
Exports declined 17.02 percent in July from prior year, in contrast to a 1.9 percent increase forecast by economists.
Similarly, imports plunged 11.56 percent annually, while economists expected an increase of 8 percent.
On a monthly basis, exports declined sharply by 26.67 percent and imports slid 26.3 percent in July.
As a result, the trade surplus fell to $0.59 billion from about $0.9 billion a month ago. It was forecast to drop to $0.6 billion in July.
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