Trade Balance Overflow, Largest USD 4.7 Billion Surplus Since 2006

Illustration. (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) stated that there was a trade surplus of USD 4.7 billion throughout August 2021. This was due to Indonesia's higher export record of USD 21.42 billion compared to imports of USD 16.68 billion.

"This trade balance surplus is the largest since December 2006", he said when giving a virtual press statement, Wednesday, September 15.

According to Margo, the largest trade surplus came from the United States with 1.51 billion US dollars. Followed by India with 1.05 billion US dollars, and the Philippines with 584.3 million US dollars.

Meanwhile, Indonesia's trade deficit mostly occurred with Australia at minus 453.9 million US dollars, Thailand with minus 334.0 million US dollars, and China at minus 175.5 million US dollars.

"For the whole year or from January to August 2021, the trade surplus was recorded at 19.17 billion US dollars. This amount is higher than the surplus in the same period in 2020, which is around USD 11 billion”, he stressed.

On the occasion, the Head of BPS also explained that the import value in August 2021 was mostly supported by raw materials and capital goods for industrial purposes. He said that this was a positive signal of the domestic economic recovery process.

“This illustrates that industrial activities are getting better because imports of raw materials are increasing, imports of capital goods are also increasing. This condition indicates that the demand for the industrial sector is quite good and imports of capital goods reflect the need for better production capacity”, concluded Margo.