Indonesia Nov trade deficit reaches widest since July 2013

[JAKARTA] Indonesia posted its widest monthly trade deficit in over five years in November as exports slumped, data from the statistics bureau showed on Monday.

The deficit in November was US$2.05 billion, bigger than October's revised deficit of US$1.77 billion and the biggest trade gap since July 2013, according to Refinitiv data. A Reuters poll had expected a deficit of US$830 million.

Exports fell 3.28 per cent in November from a year earlier, the worst monthly performance since June 2017, to US$14.83 billion. The poll's median was for a 3.95 per cent increase for exports.

The bureau said exports of manufactured goods dropped nearly 7 per cent in November from a year earlier.

November imports were US$16.88 billion, up 11.68 per cent from a year earlier, topping the poll's 10.5 per cent estimate.

Southeast Asia's largest economy has been struggling to contain imports in recent months. Some measures, including higher tariffs, have been imposed to curb imports, in a bid to reduce the trade gap and support the rupiah.

REUTERS