Indonesia’s trade surplus beats expectations in February

March 17, 2025 (MLN): Indonesia's trade surplus was bigger than expected in February as a surge in palm oil shipments bolstered exports, data showed on Monday, extending a strong start to the year even as the global trade outlook grows more uncertain.

The February surplus of $3.12 billion was larger than the $2.45bn forecast by analysts in a Reuters poll, and followed an upwardly revised $3.49bn surplus in January, the statistics department said.

The trade data will be among a host of economic indicators the central bank considers in its monthly review of monetary policy later this week.

Shipments from the resource-rich country have rebounded from falls that followed the end of the 2022 commodity boom, but analysts have warned the global trade outlook is cloudy given U.S. President Donald Trump's trade policy.

Exports rose 14.05% in February from a year earlier to $21.98bn, quicker than the 9.10% rise expected by analysts in the poll.

The value of crude and refined palm oil exports jumped nearly 90% in February from a year earlier to $2.27bn.

Prices of the edible oil have risen in recent months on expectations of tight supply, as Reuters reported.

In volume terms, shipments rose by an annual 45% to 2.06 million metric tons.

Exports of precious metals, jewellery and nickel metals also rose, helping offset a drop of nearly 20% in coal exports, which the statistics bureau said was due to both lower prices and volumes.

Imports by Southeast Asia's largest economy were $18.86bn in February, up 2.30% on a yearly basis, compared with a 0.6% increase expected in the poll.

Car and spare parts imports jumped 24% on an annual basis to $920m.

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