Thanks To India, America And China, The Indonesian Trade Balance Continues To Be Surfing In 30 Months Untunedly

Illustration. (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) said Indonesia's trade balance had a surplus of 5.67 billion US dollars in October 2022. The record was formed with an export value of 24.81 billion US dollars and imports of 19.14 billion US dollars.

"The source of the goods trading country in October 2022 is a trade balance surplus for 30 consecutive months since May 2022," said BPS Deputy for Distribution and Services Statistics Setianto, quoted by Antara, Tuesday, November 15.

Setianto conveyed that Indonesia's trade has experienced the largest surplus with three countries, namely India, the United States, and China.

With India, Indonesia's trade surplus reached 1.69 billion US dollars with the main commodities contributing to the surplus, namely mineral fuels, vegetable animal fats and oils, as well as iron and steel.

Then with the United States, Indonesia received a surplus of 1.28 billion US dollars, with the main commodities of electric machinery and equipment as well as their parts, vegetable animal fats and oils, and footwear.

Meanwhile, Indonesia's surplus with China is worth a surplus of 1.04 billion US dollars with the main contributors, namely mineral, iron and steel fuels, as well as vegetable animal fats and oils.

However, he continued, Indonesia's trade balance also experienced a deficit with three main countries, namely Australia, Brazil, and South Korea.

The deficit with Australia reached 533.8 million US dollars with its main commoditiesbaric, mineral fuel, and live animals. Then with Brazil, the deficit of 314 million US dollars with its main commodities dregs and the rest of the food, sugar and sugar economy industry, as well as animal meat. Meanwhile, with South Korea a deficit worth 183.8 million US dollars with the main commodities of machinery and mechanical equipment as well as its parts, and steel.

The cumulative trade balance of Indonesian goods in January-October 2022, he continued, experienced a surplus of 45.52 billion US dollars or grew 47.32 percent compared to the same period in the previous year.

"So the total surplus in the January-October 2022 period is already greater than the total trade balance surplus throughout 2021, which is 35.42 billion US dollars," said Setianto.

He further said that if we looked at more details, Indonesia's trade balance experienced a deficit with 11 G20 member countries, of which the top three were Australia, China, and Saudi Arabia. However, it also experienced a surplus with several other G20 member countries, namely the United States, India, and the European Union.