Indonesia’s trade balance surplus in 2021 the highest in last 5 years

Indonesia’s trade balance surplus in 2021 the highest in last 5 years
Illustration. (Pexels on Pixabay)
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Jakarta (Indonesia Window) – Indonesia’s trade balance logged a surplus of 1.02 billion U.S. dollars in December 2021 with an export value of 22.38 billion dollars and imports valued at 21.36 billion dollars, according to the Statistics Indonesia (BPS).

The non-oil and non-gas commodities contributing to the largest surplus were vegetable fats and animal oils, mineral fuels, as well as iron and steel, BPS’ Head Margo Yuwono said at a virtual press conference on Monday (Jan. 17).

The agency noted that the largest Indonesia’s trade surplus was with the United States worth 1.7 billion dollars, with the main export commodities being knitted clothing and accessories, as well as non-knitted clothing and accessories.

The trade between Indonesia and the Philippines also booked a surplus of 672.5 million dollars with mineral fuels and their parts as the main commodities.

Meanwhile, Indonesia’s trade with India experienced a surplus of 548.1 million dollars, with the main commodities being mineral fuels, as well as vegetable fats and animal oils.

Nevertheless, Indonesia’s trade balance with several countries recorded a deficit, namely that with China worth 1.1 billion U.S. dollars, with commodities contributing to the deficit being machinery and electronic equipment, as well as electrical machinery and equipment and the spare parts.

In addition, Indonesia’s trade balance deficit with Australia amounted to 677.7 million dollars, with mineral fuels and cereals contributing to the deficit.

Trade with Thailand also experienced a deficit of 313.7 million dollars, with the main contributors to the deficit being plastics and plastic goods, as well as machinery and mechanical equipment and the spare parts.

Thus, Indonesia’s trade balance during 2021 recorded a surplus of 35.34 billion dollars.

Compared to the trade balances between 2020 and 2016, the one in 2021 was the highest surplus in the last five years, Margo noted.

Indonesia’s trade balance in 2020 recorded a surplus of 21.74 billion dollars, after a deficit of 3.2 billion dollars in 2019.

In 2018, the trade balance booked a deficit worth 8.57 billion dollars, after surpluses of 11.84 billion dollars and 8.87 billion dollars, in 2016 and 2017, respectively.

Reporting by Indonesia Window

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