Trade balance surplus of Indonesia in September continues

Jakarta (Indonesia Window) – The trade balance surplus of Indonesia in September 2022 was recorded at 4.99 billion U.S. dollars, lower than that in the previous month of 5.71 billion U.S. dollars.

According to the Statistics Indonesia (BPS), this positive performance has continued Indonesia’s trade balance surplus since May 2020, Director of the Communications Department of Bank Indonesia, Junanto Herdiawan, said in an official statement received here on Tuesday.

The trade balance surplus of Indonesia in the January-September 2022 period as a whole recorded was recorded at 39.87 billion dollars, much higher than the achievement in the same period in 2021 of 25.10 billion dollars, Junanto noted.

Bank Indonesia (the central bank) views that the trade balance surplus has contributed positively in maintaining the external resilience of the Indonesian economy, he added.

In the future, the Indonesian central bank will continue to strengthen policy synergies with the government and relevant policy authorities to enhance the external resilience and support the national economic recovery, he said.

The surplus in September 2022 came from the non-oil and non-gas trade balance surplus in the midst of a slight increase in oil and gas trade balance deficit.

In September 2022, the surplus from non-oil and non-gas trade was recorded at 7.09 billion dollars, lower than the surplus in the previous month of 7.73 billion dollars.

This development was due to the performance of non-oil and non-gas exports worth 23.48 billion dollars in September 2022, lower than 26.18 billion dollars in the previous month, he said.

The continued strong performance of non-oil and non-gas exports stemmed mainly from exports of natural resource-based commodities, such as mineral fuels including coal, and CPO, supported by strengthening government policies, including the extension of the exemption from CPO export levies and the still high global commodity prices.

Exports of manufactured products, such as vehicles and their spare parts, recorded an increase.

In terms of destination countries, non-oil and non-gas products exported to China, the United States and India are still strong and are the main contributors to Indonesia’s total exports.

Meanwhile, non-oil and non-gas imports remained strong in all components in line with the continued improvement in the domestic economy.

The oil and gas trade balance deficit increased slightly from 2.01 billion dollars in August 2022 to 2.1 billion dollars in September 2022, in line with the decline in oil and gas exports which were higher than oil and gas imports.

Reporting by Indonesia Window