Indonesia’s Trade Deficit Surges as Export Slump Persists
- Exports have declined for 13 months in a row amid trade war
- Economists in survey had estimated trade deficit of $105m
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Indonesia’s trade deficit blew out to $1.3 billion in November as imports of consumer goods surged and exports contracted for a 13th straight month.
Exports fell 5.7% from a year ago to $14 billion compared to a 2.8% decline forecast in a Bloomberg survey of economists, as the U.S.-China trade war and a global slowdown continued to weigh on Southeast Asia’s biggest economy. While imports declined 9.2%, Indonesia still purchased more goods abroad than it shipped overseas, resulting in the biggest trade deficit since April.