Good News Ahead Of Eid, Indonesia Successfully Surplus Trade Balance 2.91 Billion Dollars

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA The Central Statistics Agency (BPS) reported that Indonesia managed to score a trade balance surplus of US$2.91 billion in March 2023.

Deputy for Methodology and Statistics Information, BPS Imam Machdi, said that the figure was formed because Indonesia's exports were higher by US$23.50 billion than imports of 20.59 billion US dollars.

"Indonesia's trade balance recorded a surplus of 2.91 billion US dollars in March 2023," he said during an online press conference on Monday, March 17.

Imam explained that the moncer book was supported by a surplus that occurred in the non-oil and gas commodity balance.

"Here we see that the non-oil and gas balance has a surplus of US$4.58 billion with contributed commodities being mineral fuel, vegetable oil/animal fats, and iron and steel," he said.

Meanwhile, oil and gas commodities experienced contradictory results, namely experiencing a deficit with a value of around 1.68 billion US dollars.

"For oil and gas, we have a deficit in crude oil commodities and oil products," he said. In general, last month's slick score again extended the record for the Republic of Indonesia surplus that had been achieved throughout the pandemic.

"Indonesia's trade balance until March 2023 has experienced a surplus of 35 consecutive months since May 2020," he said.

Despite recording a positive performance, it is necessary to watch out for future slowdown trends considering last March's surplus of 2.91 billion US dollars turned out to be smaller than the February period which was worth 5.4 billion US dollars.