Beautiful! 2021 Trade Surplus Of 35 Billion Dollars Is The Highest In The Last Five Years

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - The Central Statistics Agency (BPS) claims that Indonesia's trade balance, which has a surplus of US$35.34 billion throughout 2021, will be the highest in the last five years.

Head of BPS Margo Yuwono said the record resulted from Indonesia's larger exports with US$231.54 billion compared to imports of US$196.19 billion.

"This surplus of 35.34 billion US dollars is the largest in the last five years," he said during a press conference via virtual channels, Monday, January 17.

According to Margo, last year's record continued the positive trend that occurred in 2020 with a surplus of 21.62 billion US dollars.

Previously, in the pre-pandemic period, namely 2018 and 2019, Indonesia's trade always posted a deficit of minus 8.7 billion US dollars and minus 3.59 billion US dollars, respectively.

Meanwhile, in 2017 the trade balance was known to be in a surplus of 11.84 billion US dollars and in 2016 a surplus of 9.48 billion US dollars.

"Of course we hope that this record can be maintained so that it can have an impact on a fast economic recovery," he said.

In detail, Margo explained that Indonesia's exports from January to December 2021 reached US$231.54 billion, an increase of 41.88 percent over the same period in 2020.

Meanwhile, according to province, the origin of the 2021 export goods will be mostly from West Java with a value of 33.86 billion US dollars (14.62 percent), followed by East Kalimantan 24.32 billion US dollars (10.50 percent) and East Java 23.00 billion US dollars (9.94 percent).

As for imports, the three largest suppliers of non-oil and gas imported goods during January–December 2021 were China US$55.74 billion (32.66 percent), Japan US$14.61 billion (8.56 percent), and Thailand 9.08. billion US dollars (5.32 percent).