Indonesia posts trade surplus in June

JAKARTA: Indonesia recorded a trade surplus for the seventh consecutive month in June, official data showed Wednesday, due to a steep fall in imports in Southeast Asia’s top economy.
The country’s statistics agency said Indonesia posted a narrower surplus of $477 million compared to a revised $1.08 billion recorded in May.
Exports in June slid 12.70 percent on-year to $13.44 billion while imports plunged 17.42 percent, down $12.96 billion from a year before.
"The surplus occurred due to a sharper decline in imports compared to exports," statistics agency chief Suryamin told reporters.
Indonesia’s economy has been slowing recently as the price of its key commodity exports slips and demand falls in China, the world’s number two economy.
First quarter growth in Indonesia slipped to 4.7 percent, the slowest in six years, and the central bank said in a statement Tuesday that second quarter expansion would remain "limited" as well due to weak consumer spending.