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Indonesia export, import growth seen tumbling in July: Reuters poll

Indonesia export, import growth seen tumbling in July: Reuters poll

8/14/2020 9:55:00 AM

Indonesia export, import growth seen tumbling in July: Reuters poll

Indonesia 's exports and imports may have plummeted in July, following an improvement a month prior, with global trade still reeling under the fallout from the coronavirus crisis, a Reuters poll showed on Friday.

FILE PHOTO: A worker walks on the dock of the Tanjung Priok Port in Jakarta, Indonesia April 16, 2018. REUTERS/Darren WhitesideJAKARTA (Reuters) - Indonesia’s exports and imports may have plummeted in July, following an improvement a month prior, with global trade still reeling under the fallout from the coronavirus crisis, a Reuters poll showed on Friday.

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The growth pace of exports and imports in the resource-rich country had improved in June after many countries eased coronavirus-induced restrictions, although demand was yet to return to pre-pandemic levels.The median forecast from 14 analysts for exports to fall 16.65% on-year in July, compared with the previous month’s 2.28% annual expansion - which was the first growth since February.

Import contraction was seen accelerating to 22.48% last month, following June’s 6.36% drop, which economists said reflected weak domestic demand.Southeast Asia’s largest economy had likely booked a $680 million surplus last month, compared with a $1.27 billion surplus in June. Forecasts were widely ranged, from a deficit $410 million to as much as $3.8 billion surplus.

Polling by Nilufar Rizki, Tabita Diela, and Fransiska Nangoy in Jakarta, Shaloo Shrivastava in Bengaluru; Writing by Gayatri Suroyo; Editing by Sherry Jacob-Phillips Read more: Reuters Top News »

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