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According to the latest Reuters poll of 10 analysts, Indonesia is seen falling back into a trade deficit for the first time in three months in April.

Key Findings:

“The poll had a median forecast of $500 million trade deficit, compared with a revised surplus of $670.81 million in March.

Although imports prior to Ramadan are typically higher than normal, on a yearly basis they were seen falling by 12.10% due to the base effect of high imports in April 2018. Imports dropped 7% on year in March.

Meanwhile, exports were seen contracting for a sixth straight month in April, by 7.15% from a year earlier, though the pace was less sharp compared with 9.40% in March.

Southeast Asia’s largest economy had a trade surplus for two months in a row up to March, helping it narrow its current account deficit in the first quarter to the smallest in a year.”