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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