Indonesia's Jan trade deficit wider than forecast

16th February, 2019 09:21:36 printer

JAKARTA: Indonesia's trade deficit swelled in January as exports fell sharper than expected, although imports contracted for the first time in 19 months, data from the statistics bureau showed on Friday.

Southeast Asia's largest economy had a trade gap of US$1.16 billion in the first month of 2019, larger than the US$970 million deficit expected in a Reuters poll and December's revised deficit of US$1.03 billion, report agencies.

Exports fell 4.70 per cent in January on a yearly basis to US$13.87 billion, compared to the poll's forecast of a 2.54 per cent drop, marking a third month of contraction. Shipments of Indonesia's main commodities, including coal, palm oil and crude oil, fell in January.