Indonesia records biggest trade deficit ever in April
Indonesia posted its widest monthly trade deficit in history in April as exports plummeted, while the pace of fall in imports was slower than expected.
Hanoi (VNA) - Indonesia posted its widest monthlytrade deficit in history in April as exports plummeted, while the pace of fallin imports was slower than expected.
According to data from Refinitiv Eikon data company, theresource-rich country recorded its first trade deficit in three months at 2.5billion USD in April, also the highest ever to date.
Indonesia’s exports in April were at 12.60 billion USD, down13.10 percent year-on-year, while its imports fell 6.58 percent to 15.10billion USD.
Wisnu Wardana, an economist from Bank Danamon in Jakarta,said the data makes the Bank Indonesia (BI) even less likely to ease monetarypolicy in the near term. The BI has been pressured to cut interest rates afterthe US Federal Reserve turned dovish.
China, Indonesia's biggest trade partner, contributed 1.9 billionUSD to the deficit in April. Indonesia had a 704 million USD surplus in itstrade with the US in the same month.
Indonesian Finance Minister Sri Mulyani Indrawati has warneda decrease in trade can cause pressure on Indonesia’s economic growth. Thecountry has set a growth rate of 5.3 percent for 2019.-VNA
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