INDONESIA recorded its largest trade surplus for more than a year and a half in July, official data showed Tuesday, as exports and imports plunged.

    The country’s statistics agency said Indonesia posted a surplus of US$1.33 billion in July — meaning the value of its exports exceeded the cost of imports — far wider than expectations.

    Exports in July fell 19.23 percent from a year ago to US$11.41 billion, while imports plunged 28.44 percent, down US$10.08 billion from a year before.

    The surplus was the biggest since December 2013 and more than double the US$601 million forecast. The steep fall in Indonesia’s exports and imports comes as economic activity continues to slow in Southeast Asia’s largest economy.

    Growth in Indonesia fell to a six-year low of 4.7 percent in the second quarter, with the slowdown in China and a dip in commodity prices weighing on the economy. (SD-Agencies)