JAKARTA (Reuters) - Indonesia’s exports likely rose at the fastest pace in more than two years in November on an annual basis, while imports probably ticked up slightly, a Reuters poll showed.
The median forecast of 11 analysts in the poll was for 10 percent yearly growth for November exports, the strongest pace since August 2014. Exports grew 4.60 percent in October.
Prices of some commodities that are Indonesia’s main export products have risen in recent months, and this has helped the country to get more export earnings, statistics bureau officials have said.
Gundy Cahyadi, an economist with DBS in Singapore, said the stronger export performance would partly stem from a low-base effect, “it is also worth noting that export growth seems to have or has almost bottomed out in the region.”
Analysts in the poll expected imports to have increased 0.10 percent on a yearly basis in November, following October’s 3.27 percent rise - the first increase in 25 months.
The poll’s median forecast for November’s trade balance was a surplus of $820 million, smaller than the $1.21 billion one reported for October.
Polling by Nilufar Rizki; Writing by Gayatri Suroyo; Editing by Richard Borsuk