Indonesia's trade deficit eases to USD 590mn in May

By bne IntelliNews July 2, 2013

Indonesia's trade deficit eased to USD 590mn in May this year, as compared to USD 1.61bn registered in April, as imports decreased from a year earlier. According to the Central Statistics Agency, the country’s exports decreased 4.5% y/y registering USD 16.07bn during the period, while the imports declined 2.2% y/y to USD 16.66bn.

The eased trade deficit during the period likely helped moderate pressure on the country's current-account deficit, a small relief in the balance of payments, particularly after massive capital outflows recently. The government increased subsidized fuel prices by an average 33% late last month, which would help ease fuel consumption and consequently reduce imports.

 

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