World Economy

Indonesia Economy Sluggish

Indonesia Economy SluggishIndonesia Economy Sluggish

Indonesia posted a trade surplus for the fifth straight month in April, but that stemmed from imports tumbling more quickly from a year earlier than exports did, showing that the economy remained sluggish at the start of the second quarter, NewsNow reported. Imports plunged 22.31% in April, sliding for a seventh straight month. The biggest fall was for refined oil products, down 43.6% from a year earlier. The Statistics Bureau did not give an April breakdown, but said January-April imports of raw materials were down 17.81% from a year earlier, capital goods off 13.94% and consumption goods down 15.74%. April exports from Southeast Asia’s largest economy, hurt by low commodity prices, dropped 8.46% from a year earlier, more than the forecast of 7%.