Indonesia returns to trade deficit in September

INDONESIA - JAKARTA. Indonesia swung back to a trade deficit in September as the pace of the decline in imports was slower than expected, data from the statistics bureau showed on Tuesday.

Southeast Asia’s largest economy had a $160.5 million trade deficit in September, the statistics bureau said, compared to a $100 million surplus expected in a Reuters poll. It had a $112.4 million trade surplus in August.

Read Also: China September exports, imports in deeper contraction as tariffs take toll

Exports dropped 5.74% annually in September to $14.10 billion, close to the poll’s prediction of a 5.84% fall, driven by, among others, a plunge in shipments of coal and palm oil - the country’s two main commodities.

However, imports fell 2.41% on an annual basis last month to $14.26 billion, versus the poll’s median of a 4.20% decline. 

September imports of consumer and capital goods grew on-year, cushioning the overall drop.

Read Also: EU approves Greece's plan to reduce bad loans by € 30 billion