JAKARTA, June 15: Indonesia’s trade surplus narrowed in May as imports rose ahead of the Muslim fasting month, the statistics bureau said on Wednesday. The bureau said Southeast Asia’s largest economy recorded a trade surplus of around $375.6 million last month, compared to the median forecast in a Reuters poll for a $680 million surplus and April’s revised surplus of $660 million. Imports declined by 4.12 percent from a year earlier in May, the slowest pace of contraction since October 2014, to $11.14 billion. The pace of contraction was smaller the 5.92 percent expected in a Reuters poll. May’s imports rose nearly 3 percent from a month earlier. Exports were down 9.75 percent annually in May, the 20th straight month of decline, to $11.51 billion. The poll had expected a 7.90 percent annual fall. Indonesia has recorded a trade surplus almost every month since the start of 2015. Low commodity prices have pressured Indonesia’s shipments for years and falling export revenue has hurt purchasing power and investment, which in turn has taken a toll on imports. (AGENCIES)
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