It's Been 31 Months In A Row That Indonesia's Trade Balance Is In Surplus, This Time It's Worth 5.16 Billion US Dollars

Screenshot of Deputy for Statistics Production of BPS M Habibullah. (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) announced that Indonesia's trade balance was a surplus of US$5.16 billion in November 2022. The record was formed from an export value of US$24.12 billion and imports of US$18.96 billion.

"The trade balance surplus in November 2022 is the 31st consecutive month surplus that Indonesia has achieved since May 2020", said BPS Deputy for Production Statistics, M Habibullah, quoted by Antara, Thursday, December 15.

Habibullah explained, the surplus in November 2022 was supported by a surplus in the balance of non-oil and gas commodities of US$6.83 billion with the main contributors to the surplus namely mineral fuels, fats, and vegetable animal oils, as well as iron and steel.

Meanwhile, the oil and gas trade balance experienced a deficit of US$1.67 billion with the main contributors to the deficit being crude oil and oil products.

The three countries that contributed the largest surplus to Indonesia were the United States with a surplus of US$1.31 billion, trade with India with a surplus of US$17 billion, and the Philippines with a surplus of US$1.02 billion.

The largest contributors to the surplus in the United States are trading in electrical machinery and equipment and their parts, clothing, and accessories (knitted), and clothing and accessories (non-knitted).

Then, commodities contributing to the largest surplus in India are vegetable animal fats and oils; mineral fuels; as well as metal ore, slag, and ash.

Meanwhile, the contributors to the trade surplus with the Philippines are mineral fuels, vehicles and their parts, as well as vegetable fats and animal oils.

Meanwhile, Indonesia's trade experienced the largest deficit with three countries, namely Australia a deficit of US$519 million, Thailand a deficit of US$321 million, and Brazil a deficit of US$249 million.

The biggest contributors to the deficit with Australia are mineral fuels, cereals, precious metals, and jewelry. Meanwhile in Thailand, namely machines and mechanical equipment and their parts, plastics, and plastic goods, and vehicles and their parts.

Then, commodities contributing to the deficit with Brazil are sugar and confectionery, dregs and food industry waste, and cotton.

Thus, Indonesia's trade balance in the January-November 2022 period experienced a surplus of US$50.59 billion with an export value of US$268.18 billion and imports of US$217.58.