Indonesia Books $270 Million Trade Deficit in Dec; Market Expected $463 Million Surplus
Indonesia booked a $270 million trade deficit in December, swinging from a $130 million surplus in November as imports held relatively well while lower prices for some commodities weighed on exports.
That was the second monthly trade deficit posted in 2017; it also booked a $270 million deficit in June.
The median forecast from a Wall Street Journal poll of 10 economists was for a $463 million surplus in December.
The official Statistics Agency said Monday that exports fell 3.5% in December from a month earlier to $14.79 billion as prices of crude palm oil, rubber and cocoa fell. Compared with the same period a year ago, exports were up 6.9%.
Imports slipped 0.3% from a month earlier to $15.06 billion, but were up 17.8% from December 2016.
For the full year, Indonesia booked a $11.81 billion trade surplus as exports rose 16.2% to $168.70 billion, while imports increased by 15.7% to $156.89 billion.
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(END) Dow Jones Newswires
January 15, 2018 00:06 ET (05:06 GMT)