Good News From The Central Statistics Agency: Indonesia's Trade Balance Experiences A Surplus USD 2.36 Billion

Illustration (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) reported that Indonesia's trade balance in May 2021 was in a surplus of USD 2.36 billion or approximately IDR 33.60 trillion (exchange rate of IDR 14.241).

The record was shaped by higher exports compared to imports of USD 16.6 billion and USD 14.24 billion, respectively.

Head of BPS Suhariyanto said that cumulatively, the value of Indonesia's exports from January to May 2021 reached USD 83.99 billion, an increase of 30.58 percent compared to the same period in 2020.

“Similarly, non-oil and gas exports were 30.31 percent. Meanwhile, the largest decline occurred in vehicles and parts of USD 272.0 million”, he said.

Meanwhile, the largest increase in non-oil and gas exports in May 2021 compared to April 2021 occurred in mineral fuels of USD 281.9 million or 13.91 percent.

Furthermore, oil and gas imports in May 2021 were recorded at USD 2.06 billion, an increase of 213.61% compared to May 2020.

Meanwhile, non-oil and gas imports in May 2021 were worth USD 12.17 billion, down 14.16 percent compared to April 2021 or up 56.44 percent compared to May 2020.

Then, according to the use of goods, the value of imports from January to May 2021 compared to the same period the previous year saw an increase in consumption goods of USD 1.38 billion (23.97 percent), raw/auxiliary materials USD 10.9 billion (24.14 percent), and capital goods USD 1.39 billion (15.13 percent).

"Indonesia's trade balance in May 2021, which experienced a surplus, was supported by the non-oil and gas sector", concluded Suhariyanto.