BI Glad The Trade Balance Surplus Trend Continues: External Resilience Rises!

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) responded to a report from the Central Statistics Agency (BPS) which stated that Indonesia succeeded in extending the trade balance surplus trend in March 2022. In a release quoted today, the central bank stated that the trade balance surplus had contributed positively in maintaining external resilience. 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," said Head of the BI Communications Department Erwin Haryono.

It was stated that this moncer score came from an increase in the non-oil and gas trade balance surplus in the midst of an increasing oil and gas trade balance deficit.

In March 2022, the non-oil and gas trade balance surplus reached USD 6.62 billion, higher than the surplus in the previous month of USD 5.74 billion.

This positive development was supported by the increase in non-oil and gas exports from 19.48 billion US dollars in February 2022 to 25.09 billion US dollars in March 2022.

"The increase in non-oil and gas exports mainly came from exports of improved natural resource-based commodities, such as coal, iron and steel, as well as animal/vegetable fats and oils," he said.

Erwin added, in terms of destination countries, non-oil and gas exports to China, the United States and Japan recorded an increase in line with demand that remained strong amid rising global prices.

"Non-oil and gas imports are still strong in all components, in line with the continued improvement in the domestic economy," he stressed.

Meanwhile, the oil and gas trade balance deficit recorded an increase from 1.91 billion US dollars in February 2022 to 2.09 billion US dollars in March 2022, in line with the increase in oil and gas imports which were higher than oil and gas exports.

For information, BPS revealed that Indonesia's trade balance in March 2022 again recorded a surplus of 4.53 billion US dollars. The surplus was higher than the surplus in the previous month which reached 3.83 billion US dollars. This positive performance continued Indonesia's trade balance surplus since May 2020.