JAKARTA, Aug 1: Indonesia said on Wednesday it recorded an all-time trade deficit in June, and that ongoing global worries might result in a full-year trade deficit for the Southeast Asian country.
June’s data released by the Central Statistics Agency showed a deficit of $1.3 billion, Dow Jones Newswires reported. “We’ve never recorded a deficit this huge, even during crises,” Satwiko Darmesto, a director with the Central Statistics Agency, was quoted as saying.
“We may post an annual trade deficit this year due to the impact of eurozone (worries) and the situation in China and India,” he added.
During the 2008-2009 global economic slowdown, Indonesia’s exports were supported by demand from Asian giants such as China and India. This year, however, demand from both countries has slowed.
“The trade-deficit figure is a worrying one, but the biggest worry would be if the data shows China’s demand significantly slowed,” Bank Danamon economist Anton Hendranata said.—AFP