Indonesia posts larger than expected Jan trade deficit

18 February, 2020 12:00 AM printer

JAKARTA: Indonesia’s trade gap widened sharply in January as falling metals prices weighed on exports, data from the statistics bureau showed on Monday.

South-east Asia’s largest economy had a trade deficit of US$870 million in the first month of 2020, compared with a US$270 million deficit expected in a Reuters poll and a revised deficit of US$61.70 million in December, report agencies.

Exports by value fell 3.71 per cent in January from a year earlier to US$13.41 billion, compared with a forecast rise of 1.19 per cent.

Volatile prices of commodities such as copper and tin last month affected Indonesian trade, Suhariyanto, head of the statistics bureau told reporters.