Illustrative image (Source: Internet)
Hanoi (VNA) – Indonesia posted its widest monthly trade deficit in five years this November due to slumped exports, according to statistics firm Refinitiv on December 17.

The deficit in November was 2.05 billion USD, bigger than October’s revised deficit of 1.77 billion USD and the biggest trade gap since July 2013, according to Refinitiv data.

Previously, a Reuters poll had estimated the deficit at 830 million USD.

In November, Indonesia’s exports fell 3.28 percent year-on-year – the worst monthly performance since June 2017 – to hit 14.83 billion USD, mostly due to falling shipments of crude and palm oil, jewellery, and paper and pulp.

Meanwhile, imports went up 11.68 percent to 16.88 billion USD, topping the toll’s 10.5 percent estimate, lower than the increase of nearly 24 percent in October.

In recent months, Southeast Asia’s largest economy has been struggling to contain imports. Some measures, including higher tariffs, have been imposed to curb imports, in a bid to reduce the trade gap and support the rupiah.–VNA