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JAKARTA (Reuters) –     Indonesia’s trade surplus likely remained elevated in September, albeit below the level recorded in the previous month, amid a slowdown in export growth, a Reuters poll showed on Friday.

The resource-rich nation has been enjoying an export boom on the back of high co*modity prices, which has boosted its economic recovery from the impacts of the pandemic.

The September trade surplus is seen at $4.84 billion, narrower than the previous month’s $5.76 billion, according to the median forecast of 12 economists.

Export growth is seen at 27.91% annually, slower than August’s 30.15%, while imports are seen up 31.48% on a yearly basis, versus 32.81% in August.

Indonesia is a major exporter of coal, palm oil, nickel, tin and other co*modities. Analysts have warned moderating co*modity prices, at a time when imports are rising due to an improving domestic economy, may reduce its trade surplus in the remainder of 2022.

“We saw a correction in CPO (crude palm oil) prices, even though coal prices were stable” last month, said Irman Faiz, an economist with Bank Danamon, who predicted a $4.4 billion September surplus.

(Polling by Veronica Khongwir & Anant Chandak in Bengaluru; Additional reporting by Stefanno Sulaiman in Jakarta; Writing by Gayatri Suroyo; Editing by Kanupriya Kapoor)