Indonesia's October Trade Surplus Exceeds Expectations

Central Bank's Monetary Policy in Focus Amid Mixed Predictions

Indonesia recorded a trade surplus of $3.48 billion in October, surpassing the predicted $3 billion.
Both exports and imports fell less than expected, with exports down 10.43% and imports down 2.42% on a yearly basis.
Despite falling global commodity prices, Indonesia has continued to post a trade surplus every month since May 2020.
The central bank of Indonesia resumed its rate hikes last month to defend against a weakening rupiah currency.
Predictions are mixed on whether the central bank will keep rates on hold or increase them further.