In Just A Month, Two Neighboring Countries Succeeded In Making RI 'Overtake' 742 Million Dollars

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA – The Central Statistics Agency (BPS) reported that Indonesia experienced a trade balance deficit of US$742.5 million from two neighboring countries in the region in just one calendar month, namely in February 2023.

BPS Deputy for Distribution Statistics Habibullah said the two countries were Australia with a deficit of US$400.4 million and Thailand with a deficit of US$342.1 million.

"Australia and Thailand are the top two countries which are the biggest contributors to the deficit," he said when holding a press conference, quoted on Thursday, March 16.

Habibullah explained, the main commodities contributing to the deficit from Australia were cereals (HS 10) of US$135.2 million, precious metals and jewelry/gems (HS 71) US$93.6 million, and mineral fuels (HS 27)92 .4 million US dollars.

Meanwhile, for Thailand, the commodities contributing to the deficit were sugar and confectionery (HS 17) of US$107.7 million, machinery and mechanical equipment (HS 84) of US$94.9 million, and vehicles and their parts (HS 87) of 83. 1 million dollars.

"For the country contributing the third largest deficit, Brazil amounted to 158.8 million dollars with food waste and industrial waste, cereals, metal ore, livestock, and ash," he said.

Habibullah added that the countries that contributed the most to Indonesia's surplus were the United States with a value of US$1.3 billion, India with US$1 billion, and China with US$999.8 million.

In general, Indonesia was able to print a trade balance surplus of US$5.48 billion in February 2023.