Indonesia achieved its largest trade surplus since March, reaching $4.42 billion in November, surpassing the $2.21 billion projected by analysts. Exports soared by 9.1% year-on-year, totaling $24 billion, while imports experienced a modest rise of 0.01%, amounting to $19.6 billion. When examining the non-oil and gas sector, exports increased by 9.5% to $22.7 billion, whereas non-oil imports saw a more significant rise of 5.7%, totaling $17 billion.
Notably, among the non-oil and gas exports, animal or vegetable fats and oils faced the largest decline, decreasing by 10% from the prior month. In contrast, nickel and related articles achieved substantial growth, soaring by 87% relative to the previous year. On the imports side, the non-oil and gas segment saw electrical machinery and equipment decline by 15% year-on-year, while sugars and sugar confectionery surged by 25% compared to the previous year.
Furthermore, oil and gas imports are recorded at $2.57 billion, which represents a significant drop of 26% from the previous year..