YAKARTA (Reuters) – Indonesia’s exports and imports may have fallen in July after an improvement a month earlier, as global industry is still recovering from the aftermath of the coronavirus crisis, a Reuters vote showed Friday.
The rate of expansion of exports and imports in the resource-rich country took a step forward in June after many countries eased the restrictions induced by coronavirus, the call has not yet returned to pre-pandemic levels.
The median forecast of 14 analysts for exports is expected to fall by 16.65% year-on-year in July, compared to the annual expansion of 2.28% last month, which is the first expansion since February.
The contraction in imports accelerated to 22.48% last month, following the 6.36% drop in June, which economists said reflected weak domestic demand.
Southeast Asia’s largest economy probably recorded a surplus of $680 million last month, facing the $1.27 billion surplus in June. Forecasts ranged from a deficit of $410 million to a surplus of up to $3.8 billion.
Survey through Nilufar Rizki, Tabita Diela and Fransiska Nangoy in Jakarta, Shaloo Shrivastava in Bangalore; Written through Gayatri Suroyo; Edited through Sherry Jacob-Phillips
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