July Trade Balance Surplus 4.2 Billion US Dollars, New Record For 27 Months In A Row

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA – The Central Statistics Agency (BPS) reported that Indonesia's trade balance recorded a surplus of USD 4.2 billion at the end of July 2020.

The Deputy for Distribution and Service Statistics of BPS Setianto stated that this positive result was recorded due to the higher export value of 25.5 billion US dollars compared to imports of 21.3 billion US dollars.

"This result continues the trade surplus for 27 consecutive months or since May 2020," he said when speaking to the media crew via online channels on Monday, August 15.

According to Setianto, the trade balance surplus was supported by the non-oil and gas commodity balance sector.

“Non-oil and gas recorded a surplus of USD 7.3 billion. While the highest deficit is the oil and gas sector with minus 3 billion US dollars," he said.

In detail, Setianto describes the non-oil and gas sectors that are the most dominant are mineral fuels (HS 27), animal/vegetable fats and oils (HS 15), and ore, scale, and metal ash (HS 26). Meanwhile, for oil and gas, the most pressure comes from crude oil and oil products.

“State-wise, the July surplus came from the United States, India, and the Philippines. While the deficit comes from trade with China, Australia, and Thailand," he said.

Cumulatively, the trade balance from January to July 2022 recorded a surplus of USD 29.1 billion, with details of exports amounting to USD166.7 billion and exports of USD 137.5 billion.