Indonesia's Trade Balance May 2022 Surplus 2.90 Billion US Dollars

Illustration of workers loading and unloading containers using heavy equipment at Tanjung Priok Port, North Jakarta, (Photo: ANTARA)

JAKARTA - Deputy for Distribution and Service Statistics of the Central Statistics Agency (BPS) Setianto said Indonesia's trade balance in May 2022 experienced a surplus of USD 2.90 billion with exports of USD 21.51 billion and imports of USD  18.61 billion.

"Thus, this trade balance surplus has occurred for 25 consecutive months," Setianto said as quoted by Antara, Wednesday, June 15.

Setianto conveyed that the balance surplus obtained from trade transactions in the non-oil and gas sector was high at 4.75 billion US dollars.

However, the trade deficit in the oil and gas sector was reduced by 1.86 billion US dollars.

Setianto explained that non-oil and gas commodities that contributed to the largest surplus in May 2022 were mineral fuels, iron, and steel, as well as vegetable fats and oils.

Meanwhile, Indonesia's trade experienced the largest surplus with three countries in May 2022, namely with India, the United States, and the Philippines.

The largest surplus was contributed by the Indonesia-India trade with a figure of 1.5 billion US dollars in May 2022, and the main commodities were mineral fuels and chemical products.

Then, the second largest surplus was contributed by the United States which reached 1.2 billion US dollars with the main commodities of machinery and electrical equipment and parts, and accessories or knitting.

Furthermore, Indonesia's surplus with the Philippines reached 833.6 million US dollars, contributing to the surplus in May 2022 with the main commodities being mineral fuel, vehicles, and parts.

However, Indonesia's trade also experienced a deficit with several countries, including with Australia, which experienced a deficit of US$535.5 million with trade mainly in mineral fuels, precious metals, and jewelry or gems.

Then, the trade deficit with China in May 2022 amounted to 479.8 million US dollars, where the largest contributor to the deficit was electrical machinery and equipment and their parts.

Then, trade with neighboring Thailand also experienced a deficit of 331.9 million US dollars with the main commodities contributing to the deficit, namely sugar, confectionery, as well as plastics, and plastic goods.

Thus, Indonesia's trade balance cumulatively in January-December 2022 experienced a surplus of USD 19.79 billion with total exports of USD 114.91 billion and imports of USD 95.18 billion.