Indonesia's trade deficit likely narrowed in May - Reuters poll

According to the latest Reuters poll, Indonesia’s trade deficit is expected to have shrunk in May after having recorded the biggest trade deficit in the country’s history in April.

Key Findings:

“The median forecast from 11 economists in the poll was for a $1.38 billion trade shortfall last month, compared with a revised $2.44 billion deficit in April which was the widest gap Indonesia has ever seen.

After April’s record trade deficit, BI revised its outlook for 2019’s current account deficit to a range of 2.5%-3% of GDP, from an initial forecast of 2.5%. The gap in 2018 was 3% of GDP.

In the poll, May exports were seen falling by 14.70% on the year, against a 12.9% drop in April.

Meanwhile, the decline in imports was expected to accelerate in May to 13.9% on the year, from 6.8% the month before.”