According to the latest trade data published by the Indonesian Statistics Bureau, the country posted a bigger-than-expected trade deficit in November.
Indonesia reported a trade deficit of $-1.33 billion vs. $-0.13 billion expected and $0.16 billion previous. The imports and exports came in at -9.24% and -5.67% respectively vs. -13.32% and -1.18% expectations and -16.39% and -6.13% respective priors.
The median forecast from economists was for a $-0.13 billion trade deficit last month, the Reuters poll showed last week.
About Indonesia’s Trade Balance
The Trade Balance released by Statistics Indonesia is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. If a steady demand in exchange for Indonesian exports is seen, the Rupiah will receive a positive (or bullish) effect, while a low reading is seen as negative (or bearish).
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