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Indonesia saw a significant month-to-month (mtm) increase in imports in March, resulting from high consumer demand and increased purchases of manufacturing inputs during the Ramadan season.
February marks the 34th month in a row where Indonesian exports exceeded imports, but both figures are on a declining trend in a reflection of the global economic slowdown.
Japan logged its largest-ever annual trade deficit last year, with the soaring price of energy and raw materials compounded by the dramatic fall of the yen.
Indonesia’s trade performance was not quite as brisk as expected in November, with an erosion of export growth and a drop in imports amid a continuing trade surplus.
Panamanian Foreign Minister Erika Mouynes arrived in Jakarta this week to discuss expanding the Central American country's bilateral relations with Indonesia.
The government said on Saturday it had banned January exports of the fuel in a move aimed at safeguarding its domestic power supply.
While the domestic economic recovery may be slower than hoped, Indonesia is benefiting from rising activity in other countries, leading to a trade surplus that far exceeds expectations.
Statistics Indonesia (BPS) reported on Tuesday that exports grew last month by 58.76 percent year-on-year (yoy) to US$16.6 billion and imports rose by 68.68 percent yoy to $14.23 billion.
Indonesia’s trade surplus was at US$2.19 billion in April, widening by 39.5 percent from March, marking a rebound from a deficit seen last year.
Imports jumped as manufacturers bought raw materials and new machinery to resume production.