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Investing.com -- Indonesia’s exports increased by 9.68% in May compared to the same month last year, reaching $24.61 billion, according to data released by the statistics bureau on Tuesday.
The export growth, supported by increased shipments of vegetable oils and steel, significantly exceeded the median forecast of a 0.40% rise.
Indonesia recorded a trade surplus of $4.3 billion in May, a substantial increase from April’s surplus of approximately $160 million, which had been the smallest monthly surplus in five years.
Imports also grew in May, rising 4.14% year-on-year to $20.31 billion, outpacing the median forecast of a 0.90% increase.
The import growth was driven by higher shipments of capital goods and consumer goods.
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