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Indonesia likely to record trade deficit in November

Indonesia trade balance is likely to have returned to a deficit in November after a surprise surplus in the prior month, a Reuters poll showed on Friday.

The median forecast of 11 economists in the poll was for a trade deficit of about $130 million in November, following a revised $172.5 million surplus in October.The contraction in exports was seen to have moderated to 1.18 per cent on-year in the month, compared with October’s revised drop of 6.14 per cent.

Meanwhile, November imports were seen shrinking 13.32 per cent annually, slower than the 16.46 per cent drop a month earlier.Authorities in Indonesia have prioritised improving its trade performance, seeking ways to boost exports and find import substitutions following last year’s record-high deficit of $8.7 billion.

In the first 10 months of 2019, Southeast Asia’s largest economy recorded a trade gap of $1.78 billion.The November trade data, due to be released on Monday, will likely be considered by Bank Indonesia when its board of governors meet to review monetary policy in December 18-19.

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