JAKARTA - Bank Indonesia (BI) gave an official statement regarding Indonesia's trade balance surplus of US$3.87 billion in January 2023.
Head of the BI Communication Department Erwin Haryono said that his party views that the trade balance surplus has contributed positively to maintaining the external resilience of the Indonesian economy.
"In the future, Bank Indonesia will continue to strengthen policy synergies with the government and policy authorities in order to further increase external resilience and support national economic recovery," he said in a written statement quoted on Thursday, February 16.
According to Erwin, the trade balance surplus in January 2023 came from a continuation of the non-oil and gas trade balance surplus and a slight decline in the oil and gas trade balance deficit.
It was explained that last month the non-oil and gas trade balance surplus was recorded at 5.29 billion US dollars. This development was supported by the strong performance of non-oil and gas exports, which were recorded at 20.83 billion US dollars.
"Meanwhile, the performance of non-oil and gas exports mainly comes from exports of natural resources-based commodities, including rubber and coal which are still strong along with global commodity prices that are still high," he said.
Erwin added, for exports of manufactured products, such as electrical machinery and equipment as well as precious metals and jewelry/eyes, it was recorded to increase.
Meanwhile, based on destination countries, non-oil and gas exports to China, the United States, and Japan remain high and become a major contributor to Indonesia's total exports.
"Meanwhile, the oil and gas trade balance deficit was recorded to have decreased slightly from 1.73 billion US dollars in December 2022 to 1.42 billion US dollars in January 2023," he said.
To note, the score of positive results until last month extended the record surplus that Indonesia had achieved for 33 consecutive months or since May 2020.
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