Indonesia books preliminary $4.9 bln trade surplus in May, finance minister says
Exports from the resource-rich country reached $25.3 billion, while imports were $20.4 billion, Sri Mulyani Indrawati told a press conference.
Statistics Indonesia is due to release final data on July 1. If the figures don't change, the May surplus would be the widest since February 2023, based on LSEG data. April's surplus was $160 million.
Sri Mulyani said while the trade figures looked good, trade tensions and slowing global growth have influenced exports and would also affect growth in Southeast Asia's biggest economy.
Strong growth was seen in May exports of agricultural products and manufactured goods, but there was also a steep drop in shipments of mining products, which hurt government revenues, Sri Mulyani said.
Indonesia ran a budget deficit of 21 trillion rupiah ($1.29 billion) in the first five months of 2025, equal to 0.09% of GDP, the ministry data showed.
Revenues in the January-May period reached 995.3 trillion rupiah, while total spending stood at 1,016.3 trillion rupiah.
That compares with a deficit of 0.1% of GDP in the same period of 2024, with revenues at 1,123.5 trillion rupiah and spending at 1,145.3 trillion rupiah.
($1 = 16,275 rupiah)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Finextra
4 hours ago
- Finextra
Aspire launches investment solution
Aspire, the all-in-one finance platform for modern businesses, today announced the launch of Aspire Yield, its new investment solution, giving small businesses access to investment opportunities within their Aspire Business Account. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The launch follows AFT SG 2 Pte Ltd, a company within the Aspire Group, securing its Capital Markets Services License (CMS) from the Monetary Authority of Singapore (MAS) in April 2025, enabling it to offer regulated investment solutions to businesses. To ensure stability and performance needed to turn idle cash into capital growth, Aspire's affiliate has partnered with Fullerton Fund Management for both Singapore and US dollar investments. The integrated solution addresses a long-standing challenge for SMEs, where competitive investment opportunities have traditionally remained difficult to access without substantial minimums or complex processes that favour larger corporations with established banking relationships. Now, through the Aspire platform, Singapore's small businesses can earn up to 2.04% for SGD investments and 3.88% for USD investments[1], compared to traditional business savings rates that typically range from 0.01% to 0.25% per annum[2]. More than half the funds were previously sitting idle Early adoption data from Aspire Yield's clients in beta reveals a significant untapped opportunity: approximately 55% of funds now invested through Aspire Yield were previously sitting idle in traditional business accounts, earning minimal returns. 'That's a staggering statistic and shows just how much capital small businesses have been leaving on the table,' said Andrea Baronchelli, CEO and co-founder of Aspire. 'Aspire Yield changes this by giving every eligible Singapore business access to the same high-quality money market funds that are available to institutional investors, seamlessly integrated into their daily financial operations.' Zero barriers, maximum flexibility for business operations All eligible Singapore-incorporated businesses can now open SGD and USD Yield accounts immediately. Unlike traditional investment products that often require minimums and lengthy lock-up periods, Aspire Yield offers: No minimum investment requirement — businesses can start with any amount Next business day liquidity, with funds remaining accessible for operational needs No lock-up periods and complete flexibility to withdraw as business needs change Integrated investment management within the Aspire platform. 'Aspire Yield is refreshingly simple: no minimums, no hidden terms, and no pressure to 'invest' in something risky. Just move cash in, and it does its thing,' said Bhavana Ravindran, founder and CEO of Earlybird AI, which uses Aspire Yield to manage its business funds. 'We designed Aspire Yield specifically for how modern businesses operate,' explained Damien Passavent, Chief Product Officer, Aspire. 'Businesses need their capital to work harder, but they also need immediate access when opportunities or challenges arise. This isn't about locking money away – it's about making every dollar more productive while preserving complete operational flexibility.'
Times
4 hours ago
- Times
Swiss Army knife production may move to US amid Trump tariffs
America could wrest control of the manufacture of Swiss Army knives away from their Alpine homeland in a coup for President Trump's trade policy. Victorinox, which has made the knives in Ibach, Switzerland, since 1884, is considering moving part of its production to the US to soften the blow from import tariffs on its business. Carl Elsener, chief executive of Victorinox, told the German business magazine WirtschaftsWoche: 'We are looking into carrying out directly on site individual processing steps at the end of the value chain, such as the final cleaning and packaging of commercial knives.' 'That would reduce the value of the goods on which we have to pay customs duty by 10 per cent,' he added. Since 1884, Victorinox's founding family, the Elseners, have worked to keep manufacturing the Swiss Army knife in Switzerland. The country has been severely hit by Washington's trade policy under Trump, who earlier this month increased US tariffs on Swiss imports to 39 per cent. The US is a leading export market for Swiss brands including Swatch, Rolex and Patek Philippe watches as well as high-end cheeses and chocolates. Victorinox, which makes commercial knives as well as its well-known pocket knives, generates some 13 per cent of its revenue in the US. Elsener told WirtschaftsWoche that the customs duties were coming at an already difficult time. 'The strong Swiss franc has put our competitiveness and our margins under considerable pressure,' he said. Still, high inventories in the US meant the tariffs would not affect Victorinox until early next year, he added. For now, the firm would wait and see how things develop, he said. Industry associations and economists have said the tariffs will inflict major damage on the Swiss economy, put jobs at risk and curtail growth. They could also push the Swiss National Bank to cut interest rates next month. Economic uncertainty caused by Trump's trade policies has fuelled demand for the safe haven Swiss franc, boosting the currency and making Swiss-made goods more expensive abroad.
Reuters
7 hours ago
- Reuters
US soybean farmers urge Trump to make purchase deal with China
WASHINGTON, Aug 19 (Reuters) - U.S. soybean farmers urged President Donald Trump in a Tuesday letter to reach a trade deal with China that secures significant soybean purchase agreements, warning of dire long-term economic outcomes if the country continues to shun the U.S. crop. China, the world's largest soybean buyer, is turning to Brazilian cargoes amid trade tensions with the U.S. and ongoing negotiations. The country has not pre-purchased soybeans from the upcoming U.S. harvest, an unusual delay that has worried traders and farmers. "Soybean farmers are under extreme financial stress. Prices continue to drop and at the same time our farmers are paying significantly more for inputs and equipment. U.S. soybean farmers cannot survive a prolonged trade dispute with our largest customer," said the letter sent from the American Soybean Association to Trump on Tuesday. China's turn to Brazilian soybeans could cost U.S. farmers billions. China bought 54% of U.S. soybean exports in the 2023-2024 marketing year, worth $13.2 billion, according to the ASA. The country's soybean imports hit a record July high this year. Soybean prices jumped after an August 11 post from Trump on Truth Social urging China to quadruple its soybean purchases. However, farmers said they doubted such a large increase was possible. "The further into the autumn we get without reaching an agreement with China on soybeans, the worse the impacts will be on U.S. soybean farmers," said the letter. The White House did not immediately respond to a request for comment.
