Indonesia’s trade balance in January 2022 books surplus of 930 mln USD

Indonesia's trade balance in January 2022 books surplus of 930 mln USD
Illustration. (Timelab Pro on Unsplash)
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Jakarta (Indonesia Window) – Indonesia’s trade balance has recorded a surplus of 930 million U.S. dollars in January 2022, with an export value of 19.16 billion dollars and imports valued at 18.23 billion dollars, the Statistics Indonesia (BPS) has noted.

Indonesia’s trade balance posted a 21-month surplus in a row, BPS’ deputy for distribution and services statistics, Setianto, told a virtual press conference here on Tuesday (Feb. 15).

He explained that non-oil and non-gas commodities contributing to the largest surplus were animal fats and vegetable oils, mineral fuels, as well as iron and steel.

Meanwhile, the three largest contributors to the surplus were the United States, the Philippines, and India.

According to Setianto, the surplus from the United States reached 1.96 billion dollars with the main commodities contributing to the surplus were knitted clothing and accessories, as well as non-knitted clothing and accessories.

He added that Indonesia’s trade surplus with the Philippines reached 537.8 million dollars, with the largest contributors to the surplus commodities were vehicles and their spare parts, as well as mineral fuels.

Indonesia’s trade surplus with India was recorded at 428.8 million dollars with the main commodities contributing to the surplus were fats and vegetable oils, as well as silver ore and ash.

Indonesia’s trade balance also experienced a deficit, with the largest value recorded with China, Thailand and Australia.

The deficit with China reached 2.2 billion dollars. The main commodities contributing to the deficit were machinery and mechanical equipment and their spare parts, as well as machinery and electrical equipment and their spare parts.

Trade with Thailand logged a deficit of 430.2 million dollars with the largest commodities being plastic and plastic goods, as well as sugar and confectionery.

Meanwhile, Indonesia’s trade deficit with Australia was recorded at 233.6 million dollars, with the main commodities being cereals and mineral fuels.

Reporting by Indonesia Window

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