Indonesia’s trade balance posts $ 2.59 billion surplus in July

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This number was quite high compared to the surplus trends of the past five years.

Jakarta (ANTARA) – Indonesia recorded a trade surplus of $ 2.59 billion in July 2021, with exports valued at $ 17.70 billion and imports reaching $ 15.11 billion, Statistics Indonesia said (BPS).

“The surplus trend has been reached for 15 consecutive months. This indicates the improvement in our economy,” BPS chief Margo Yuwono said Wednesday at an online press conference here.

In the past 15 months, the highest surplus of $ 3.58 billion was recorded in October 2020, he said. While in 2021, the highest surplus to date was recorded in May at $ 2.70 billion, he added.

The largest contribution to the surplus in July 2021 came from exports of animal or vegetable fats and oils, mineral fuels, as well as iron and steel, Yuwono said.

He added that exports of oil and gas as well as non-oil and gas sectors grew by 50.08% and 28.26% year-on-year, respectively.

In July 2021, Indonesia reported a trade surplus of $ 1.27 billion with the United States, $ 533 million with the Philippines and $ 397.5 million with Malaysia, continued. the head of the BPS.

However, Indonesia also recorded a trade deficit with several countries – China ($ 844.5 million), Australia ($ 448.1 million) and Thailand ($ 271.1 million).

As a result, Indonesia’s trade surplus between January and July 2021 reached $ 14.42 billion, he explained. “The number was quite high compared to the surplus trends of the past five years,” Yuwono noted.

Indonesia’s trade balance recorded a surplus of $ 8.65 billion in 2020, $ 7.39 billion in 2017 and $ 4.76 billion in 2016, he informed. At the same time, the country recorded a trade deficit in 2019 and 2018, he added.

“We expect this positive trend to continue in the coming months, as our economic growth is also affected by our export performance,” Yuwono said.

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