Aditya Suharmoko, Jakarta – The Trade Ministry estimates the contraction in the volume of exports will be smaller than previously forecast due to improving global economic conditions.

Export volume is estimated to contract by between 15 percent and 20 percent this year, less than estimates of between 20 and 30 percent made earlier this year, Trade Minister Mari Elka Pangestu said Monday.

She said an increase in commodity prices is the reason for the improved forecast.

In the first half this year, exports were estimated to drop by 20 percent as compared to the same period last year. No official figure has been released, Mari said.