JAKARTA (Reuters) – Indonesia’s trade gap widened sharply in January as falling metals prices weighed on exports, data from the statistics bureau showed on Monday.
Southeast Asia’s largest economy had a trade deficit of $870 million in the first month of 2020, compared with a $270 million deficit expected in a Reuters poll and a revised deficit of $61.70 million in December.
Exports by value fell 3.71% in January from a year earlier to $13.41 billion, compared with a forecast rise of 1.19%.
Volatile prices of commodities such as copper and tin last month affected Indonesian trade, Suhariyanto, head of the statistics bureau told reporters. The stoppage of nickel ore exports was also a factor, he added.
January imports totaled $14.28 billion, down 4.78% from a year earlier. The poll had expected a 5.66% decline no-year.
(Reporting by Tabita Diela and Nilufar Rizki; Writing by Fransiska Nangoy; Editing by Kim Coghill)