Slowing down, but Indonesia still at surplus of USD 2.91 billion
JAKARTA – The trade of balance reached surplus of USD 2.91 billion in March 2023. However, it was still lower than March 2022’s surplus of USD 4.54 billion. This decline is seen for the first time since the beginning of the COVID-19 pandemic in 2020.
The Statistics Indonesia (BPS) report issued today (17/4) showed that the export in March 2023 was at USD 23.50 billion, whereas its import clocked up to USD 20.59 billion in March 2023. The export consists of non-oil and gas commodities worth USD 22.16 billion and oil and gas of USD 1.34 billion. Meanwhile, import consists of non-oil and gas of USD 17.57 billion and oil and gas of USD 3.02 billion.
The trade surplus resulted from the surplus of non-oil and gas sector of USD 4.58 billion, which is generated from mineral fuel, fats and animal fats, as well as iron and steel. The deficit was recorded at USD 1.68 billion contributed by crude oil and natural gas.
The countries that contributed to this trade surplus are the United States (US) of USD 1,089 million, India of USD 1,077 million, and the Philippines of USD 806 million. On the contrary, Thailand generated deficit of USD 609.4 million, Australia of USD 485.8 million, and South Korea of USD 266.4 million. (LK/ZH)