JAKARTA, Jul 01, 2008
(adds details on the trade data)
Indonesia's trade surplus jumped to $3.20 billion in May, from $1.59 billion in April, thanks to higher values in crude palm oil exports, the Central Statistics Agency said Tuesday.
The trade surplus was slightly lower than the $3.27 billion recorded in May last year, but beat economists' median forecast of $2.04 billion.
Including imports to the so-called bounded zones, where imports are processed into export goods, Indonesia recorded a $1.23 billion trade surplus, swinging from a $530 million deficit in April.
The agency said Indonesia's crude palm oil exports rose by $1.29 billion in May from April.
Indonesia is the world's largest CPO producer.
Exports in May rose 17.5% from a month earlier, and 31% from a year earlier to $12.89 billion. Imports gained 3.3% on month, but jumped 50% from a year earlier to $9.69.
Indonesia, the only Southeast Asian member of the Organization of Petroleum Exporting Countries, recorded a $1.25 billion deficit in its May oil-trade account, little-changed from $1.29 billion a month earlier, the agency said.
Indonesia has been a net oil importer since 2003 and will leave OPEC after its membership expires at the end of this year.
(adds details on the trade data)
Indonesia's trade surplus jumped to $3.20 billion in May, from $1.59 billion in April, thanks to higher values in crude palm oil exports, the Central Statistics Agency said Tuesday.
The trade surplus was slightly lower than the $3.27 billion recorded in May last year, but beat economists' median forecast of $2.04 billion.
Including imports to the so-called bounded zones, where imports are processed into export goods, Indonesia recorded a $1.23 billion trade surplus, swinging from a $530 million deficit in April.
The agency said Indonesia's crude palm oil exports rose by $1.29 billion in May from April.
Indonesia is the world's largest CPO producer.
Exports in May rose 17.5% from a month earlier, and 31% from a year earlier to $12.89 billion. Imports gained 3.3% on month, but jumped 50% from a year earlier to $9.69.
Indonesia, the only Southeast Asian member of the Organization of Petroleum Exporting Countries, recorded a $1.25 billion deficit in its May oil-trade account, little-changed from $1.29 billion a month earlier, the agency said.
Indonesia has been a net oil importer since 2003 and will leave OPEC after its membership expires at the end of this year.
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