Covid-19 curbs widening Indonesia's trade surplus in July

Indonesia's trade surplus is expected to show an expansion in July after the government imposed mobility restrictions to control a spike in Covid-19 cases, squeezing exports and imports, a Reuters poll showed on Friday.

Southeast Asia's biggest economy has been enjoying an export boom on the back of high commodity prices, allowing for a trade surplus every month since May of 2020.

The median forecast of 10 analysts in the poll was for a July trade surplus of $2.27 billion, up from the previous month's $1.32 billion.

Export growth of 30.20 per cent, on an annual basis, was forecast.

While high commodity prices still supported shipments, the estimated increase would be the lowest since February and below the more than 50 per cent growth rate recorded between April to June.

Imports were seen shrinking on a monthly basis, but up 52.15 per cent annually due to a low base effect.