Surplus Record Not Break, Trade Balance Reaches 15.5 Billion US Dollars In Second Quarter

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA – The Central Statistics Agency (BPS) stated that Indonesia's trade balance in the second quarter of 2022 was recorded at US$15.5 billion.

Head of BPS Margo Yuwono said that this figure was higher than the first quarter of 2022, which amounted to US$9.3 billion.

"The trade balance at the end of the second quarter experienced an increase of 148 percent year on year (yoy) compared to the second quarter of 2021 which amounted to 6.2 billion US dollars," he said online during a press conference on Friday, August 5.

According to Margo, when compared to the first quarter of 2022 (quartal to quarter/qtq), there was a growth of 67.8 percent which at that time was a surplus of 9.3 trillion.

“The increase in exports to trading partners still shows a positive signal and Indonesia gets a windfall from here. Global pressure also had a good impact on our export performance and made the trade balance a surplus in the second quarter of this year," he said.

The editor noted that the trade balance surplus that was inscribed by Indonesia had been going on since May 2020 or about 26 in a row to date.

On this occasion, Margo also revealed that Indonesia's economic growth rate in the second quarter of 2022 was 5.44 percent yoy. This achievement is much better than the prediction of the government and BI which is in the range of 5 percent.

Meanwhile, economic growth in the first quarter of 2022 was 5.01 percent. Meanwhile, the area that is the main supporter is still dominated by the island of Java with a contribution of 56.5 percent nationally.

This is followed by Sumatra (22 percent), Kalimantan (9 percent), Sulawesi (7.1 percent), Bali and Nusa Tenggara (2.7 percent), and Maluku and Papua (2.5 percent).