Indonesia posts first trade deficit in 6 years
Indonesia posted its first trade deficit in six years, with a roughly $2 billion shortfall in May. The gap was mainly due to a large deficit in oil and gas trade.
Indonesia, Southeast Asia's largest economy, posted its first trade deficit in six years, recording a shortfall of about $2 billion in May. The data marks a notable turn in the country's external balance.
The report said the gap was mainly due to a large deficit in oil and gas trade. Costs tied to energy imports weighed on the country's overall trade balance for the month.
Trade figures are closely watched by investors for what they signal about the currency, the current account and the growth outlook. Analysts said commodity prices and export demand in the coming months will help determine the direction of the balance.
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