Indonesia posts largest trade deficit in 7 months

The trade data is among a host of macroeconomic indicators closely watched by investors and the central bank Bank Indonesia (BI), which is scheduled to meet later this week to review monetary policy, is seeking to narrow the current account deficit to between 2.5% and 3% of GDP in 2019, from 3% in 2018.

JAKARTA: Indonesia posted its biggest trade deficit in seven months in November as exports fell more than expected and imports of consumer goods soared ahead of year-end festivities.

November’s trade gap was US$1.33bil, data from the statistics bureau showed yesterday, the widest since April and much larger than the median forecast of a Reuters poll of a US$130mil deficit.