Indonesia exports rise 6.05% annually in July, beating expectations

Indonesia's exports rose 6.05% year on year in July to $26.22 billion, according to official data released on Tuesday. That growth rate beat the 3.36% increase forecast in a Reuters poll. Business Recorder reported that the country ended a three-month stretch without a trade surplus.

According to Statistics Indonesia, imports climbed 27.02% in July, a faster rate than the 24% forecast by the Reuters survey. The trade balance therefore showed a slim surplus of $0.13 billion. Manufactured goods, including chemicals, refined nickel and aluminium goods, underpinned the export total.

Indonesia ranks among the largest global suppliers of coal, palm oil and nickel, and it has benefited this year from firmer prices for several of those commodities. Oil and gas exports slipped, however, as authorities asked contractors to put domestic sales first. Annual inflation climbed from 2.88% in July to 3.19% in August, staying inside the central bank's 1.5% to 3.5% goal band, while core inflation reached 2.92%.