Indonesia's coal export ban nearly wipes out January trade surplus

Authorities on January 1 announced an unexpected suspension of all coal exports due to critically low inventory of the fuel at domestic power plants

Indonesia's monthly trade surplus is expected to plummet 80% to $190 million in January after the world's top coal exporter clamped down on shipments last month, and as imports gained momentum, a Reuters poll showed on Monday.

Authorities on Jan. 1 announced an unexpected suspension of all coal exports due to critically low inventory of the fuel at domestic power plants. Shipments were allowed to resume gradually from Jan. 10, but the ban remains in place for miners who do not comply with domestic sales requirements.

The resource-rich country has recorded a trade surplus every month since May, 2020, benefitting from an