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PHOTO: Container stacks are visible at the port of Tanjung Priok in Jakarta, Indonesia on May 6, 2019. REUTERS / Willy Kurniawan
JAKARTA (Reuters) – Indonesia would record its largest trade surplus in a year in June, although exports and imports have continued to decline, reflecting a global trend of weak trade, said Friday. Reuters poll.
According to the median forecast of the eleven economists surveyed, last month's trade surplus was $ 690 million, compared with a revised surplus of $ 218.5 million in May.
May's surplus was a surprise, as markets were expecting a deficit of $ 1.4 billion. The previous month, Indonesia had recorded its largest trade deficit in its history with a deficit of $ 2.4 billion.
This prompted some economists to predict that the central bank would propose a cut in interest rates to boost economic growth, especially after the Federal Reserve's decision to cut rates in the United States.
The Bank of Indonesia is scheduled to meet for a monetary policy review on 17 and 18 July.
According to the survey, badysts forecast an 8.7% decline in exports in June, against a contraction of 8.5% in May.
June's imports also fell by 5.0% a year, compared to 17.3% the previous month.
Voted by Tabita Diela and Nilufar Rizki; Written by Gayatri Suroyo; edited by Gopakumar Warrier
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