Indonesia posts $ 5.73 billion in trade surplus in October 2021

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In addition, in 2021 the amount is quite high.

Jakarta (ANTARA) – Indonesia recorded a trade surplus of $ 5.73 billion in October 2021, with exports valued at $ 22.03 billion and imports at $ 16.29 billion, according to Statistics Indonesia (BPS).

“Indonesia’s trade balance has recorded a surplus for 18 consecutive months,” bureau chief Margo Yuwono said at a virtual press conference on Monday.

Yuwono noted that the commodities contributing the most to the surplus were fuels, vegetable and animal fats and oils, and iron and steel.

Meanwhile, the United States (US), China and the Philippines were the main contributors to the surplus.

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Indonesia’s surplus with the United States reached $ 1.7 billion from trade in vegetable and animal fats and oils as well as clothing, knitwear and their accessories.

It also saw a $ 1.3 billion surplus from fuels as well as iron and steel trade with China.

During that time, it recorded a surplus of $ 685.7 million with the Philippines coming from fuels as well as vehicles and their parts.

However, the BPS also noted that Indonesia had experienced a deficit with several countries.

The nation ran a $ 595 million trade deficit with Australia due to fuels as well as silver ore and ash.

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Its trade with Thailand also recorded a deficit of $ 295.6 million, with plastics and plastic products as well as machinery, mechanical equipment and their parts being the main products causing the deficit.

In addition, Indonesia suffered a deficit of $ 216.4 million due to trade in grains as well as iron and steel with Ukraine.

Further, Yuwono noted that during the period January-October 2021, Indonesia’s trade surplus reached $ 30.81 billion.

“Our data shows that the amount of our surplus is still increasing from 2016 to 2021. Moreover, in 2021, the amount is quite high. We hope that this will facilitate our national economic recovery,” he added.

According to the BPS website, Indonesia’s trade surplus has consistently exceeded $ 1 billion since January 2021.

The lowest figure was recorded in June 2021 at $ 1.324 billion, while the highest was in October 2021 at $ 5.73 billion.

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