Indonesia posts trade balance surplus of 5.73 bln USD in October 2021

Jakarta (Indonesia Window) – Indonesia’s trade balance surplus in October 2021 was recorded at 5.73 billion U.S. dollars with an export value of 22.03 billion U.S. dollars and imports valued at 16.29 billion U.S. dollars, according to the Statistics Indonesia (BPS).

Based on trends, Indonesia’s trade balance has booked a surplus for 18 consecutive months, said BPS’ head Margo Yuwono said at a virtual press conference on Monday (Nov. 15).

Margo said that the commodities contributing the most to the surplus were mineral fuels, vegetable fats and animal oils, as well as iron and steel. Meanwhile, the countries that contributed to the largest surplus for Indonesia were the United States, China, and the Philippines.

With the U.S., Indonesia’s trade surplus amounted to 1.7 billion dollars, with the main commodities contributing to the surplus were animal fats and vegetable oils, followed by clothing and accessories or knitwear.

Indonesia’s trade with China also experienced a surplus of 1.3 billion dollars with the commodities causing the surplus being mineral fuels, as well as iron and steel.

Meanwhile, Indonesia’s trade with the Philippines recorded a surplus of 685.7 million dollars with the most contributing commodities being mineral fuels and vehicles and their spare parts.

On the other hand, Indonesia’s trade deficit with several countries, including with Australia, amounted to 595 million dollars, which was caused by the trade of mineral fuel as well as silver and metal ores.

Indonesia’s trade with Thailand also experienced a deficit of 295.6 million dollars, with plastics and plastic goods, machinery, mechanical equipment and spare parts, contributing to the deficit.

Indonesia also booked a trade deficit with Ukraine of 216.4 million dollars, with cereals as well as iron and steel commodities contributing to the deficit.

Margo pointed out that during the January-October period 2021, Indonesia’s trade balance surplus cumulatively reached 30.81 billion dollars.

Reporting by Indonesia Window