Indonesia’s trade deficit narrowed sharply to US$0.06 billion in July 2019 from a US$2 billion in the same month a year earlier and below market consensus of US$0.42 billion. Exports fell 5.12% year-on-year to US$15.45 billion while imports dropped at a faster 15.21% to US$15.51 billion. Considering the first seven months of the year, the trade balance recorded a deficit of US$1.90 billion, compared with a deficit of US$3.21 billion in the same period of 2018.