General view of a business district during sunset in JakartaMore
JAKARTA (Reuters) – Indonesia may have swung back to a trade deficit in April as both exports and imports contracted amid restrictions imposed across the globe to contain the spread of the new coronavirus, a Reuters poll showed on Wednesday.
Fifteen analysts in the poll gave a wide range of predictions for April trade balance, from a $1.4 billion deficit to a surplus of $1.2 billion, but the median forecast was for a $200 million deficit.
Southeast Asia’s largest economy booked a $740 million surplus in March.
Exports in April were seen dropping 2.70% from a year earlier due to a slump in demand from countries affected by the pandemic.
Shipments of some of Indonesia’s important commodities like