Deputy Minister of Trade Jerry: Indonesia's Trade Balance in 2022 is the Highest

JAKARTA - Deputy Minister of Trade Jerry Sambuaga said that Indonesia's trade performance could break records with the trade balance in 2022 reaching 54.5 billion US dollars (IDR 837 trillion), the highest to date.

"In December 2022, the trade balance of the Republic of Indonesia will be the highest as long as the Republic of Indonesia was founded, the figure is 54.5 billion US dollars, this is something extraordinary," said Jerry at the HIPPINDO Real Action event after the 2023 ASEAN Summit in the M. H. Thamrin area, Central Jakarta, quoted from Antara, Monday, September 11.

He added that until 2023, Indonesia's trade balance will be in a surplus condition, where in July the export value of domestic products reached 20.88 billion US dollars (IDR 320.6 trillion).

"That as of today, as of now, the performance condition of our trade has reached a trade balance surplus. The figure as of July 2023 is 20.88 billion US dollars, that is a significant figure," said Jerry.

Jerry said that the trade balance achievement was supported by exports of several leading commodities such as coal, palm oil, iron & steel, nickel and electronic products.

Furthermore, he explained that the government's current focus on exporting finished processed goods could contribute to providing added value to Indonesia's trade balance.

"By focusing on processed goods, finished goods will provide added value and make an increasingly positive contribution to the trade balance," said Jerry.

In order to help Indonesia's trade activities abroad, both exports and imports, explained Jerry, the Ministry of Trade has 64 trade representatives spread throughout the world.

"From the Ministry of Trade, we have 64 trade representatives throughout the world. These are representatives of the Ministry of Trade who are assigned to help facilitate exports and imports and of course the exchange of goods and services," said Jerry.