Indonesia Achieves 23 Consecutive Month Trade Surplus With March At US$4.53 Billion

Indonesia’s trade balance registered a surplus of US$4.53 billion in March 2022, with exports valued at US$26.50 billion and imports pegged at US$21.97 billion, according to Statistics Indonesia (BPS).

This will add to the country’s record of 23 consecutive months of the trade balance. The non-oil and gas commodities that contributed to the largest surplus were mineral fuels, vegetable fats and oils, and iron and steel.

As for nations, trade with three countries that contributed to the biggest surplus were the United States, India, and the Philippines. With the US, Indonesia’s trade surplus reached US$2 billion, with animal fats and oils, vegetable oils, and footwear contributing to the surplus.

Indonesia’s trade with India also experienced a surplus of US$1.2 billion, with mineral fuels animal fats, and oils being the largest contributors to the surplus. For the Philippines, Indonesia recorded a surplus of US$ 916.9 million, with mineral fuels as well as vehicles and their parts the main commodities that contributed to the surplus.

The trade deficit was met with Thailand, Australia, and Argentina.

With Thailand, Indonesia experienced a deficit of US$565.6 million, with sugar and confectionery and machinery, mechanical equipment, and their parts the main commodities that contributed to the deficit. Australia also saw a deficit of US$515 million, with the main commodities contributing to the deficit being mineral fuels and cereals.

Its trade with Argentina also experienced a deficit of US$261.6 million, with cereal commodities contributing to the deficit.

The total trade balance in the January–March 2022 period experienced a surplus of US$9.33 billion. The figure was higher compared to the same period in 2021, when the country recorded a surplus of US$5.52 billion.

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