JAKARTA - Bank Indonesia (BI) responded to the trade balance surplus in April 2022, which amounted to USD 7.56 billion.
Head of the BI Communications Department Erwin Haryono said the trade balance surplus had contributed positively to maintaining the external resilience of the Indonesian economy.
"Going forward, Bank Indonesia will continue to strengthen policy synergies with the government and relevant policy authorities to increase external resilience and support national economic recovery," he said in an official statement on Tuesday, May 17.
According to Erwin, last month's score continued Indonesia's trade balance surplus since May 2020 or 24 months in a row.
"This performance is higher than the surplus in March 2022 which reached 4.54 billion US dollars," he said.
Erwin explained that the April 2022 balance surplus came from an increase in the non-oil and gas trade balance surplus amid an increasing oil and gas trade balance deficit.
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He said, in April 2022 the non-oil and gas trade balance surplus reached 9.94 billion US dollars, higher than the surplus in the previous month of 6.62 billion US dollars.
"This positive development was supported by the increase in non-oil and gas exports from USD 25.09 billion in March 2022 to USD 25.89 billion," he said.
Furthermore, the increase in non-oil and gas exports was mainly due to improved exports of natural resource-based commodities, such as mineral fuels including coal, metal ore, as well as iron, and steel, supported by persistently high global prices.
In terms of destination countries, non-oil and gas exports to China, the United States, and Japan remained high in line with strong demand.
Meanwhile, non-oil and gas imports remained strong in all components, in line with the continued improvement in the domestic economy.
"Meanwhile, the oil and gas trade balance deficit recorded an increase from 2.09 billion US dollars in March 2022 to 2.38 billion US dollars in April 2022, in line with the increase in oil and gas imports which were higher than oil and gas exports," Erwin concluded.
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