According to the latest commercial data published by the Indonesian Bureau of Statistics, the country posted a larger trade deficit than expected in April.
Indonesia declared a trade surplus of -0.35 billion dollars compared to 0.74 billion dollars expected and -0.20 billion dollars previously. Imports and exports reached respectively -18.58% and -7.0% against -12.73% and -2.70% expectations and -0.75% and -0.20% respectively.
The median provide Economists were for a trade deficit of $ 0.20 billion last month, according to the Reuters poll last week.
USD / IDR cuts gains despite negative Indonesian trade balance data, moving away from daily highs of 14,910. At press time, cross trades 0.27% higher at 14.880.
About Indonesia’s trade balance
The Trade Balance released by Statistics Indonesia is a balance between exports and imports of total goods and services. A positive value indicates a trade surplus, while a negative value indicates a trade deficit. If a constant demand in exchange for Indonesian exports is observed, the Rupiah will receive a positive (or bullish) effect, while a weak reading will be considered negative (or bearish).