Indonesia posts US$2.1 billion trade surplus in May 2020

Indonesia posts US$2.1 billion trade surplus in May 2020

Head of the Central Bureau of Statistics (BPS) Suhariyanto. (ANTARA/Sella Panduarsa Gareta)

Jakarta (ANTARA) - Indonesia recorded a trade surplus of US$2.1 billion in May 2020, according to the Central Bureau of Statistics (BPS).

The country's export value reached $10.53 billion, while imports touched $8.44 billion last month.

"Hence, we observe that this surplus is less encouraging, as exports fell, and imports kept plunging deeper," BPS Head Suhariyanto stated at a virtual press conference here on Monday.

Indonesia’s export value reached $10.53 billion in May 2020, down 13.40 percent from that in April 2020 and a 28.95-percent decline in comparison with the export value in May 2019.

The country’s imports plunged 32.65 percent in May 2020 to reach $8.44 billion, from that recorded in April 2020 and declined by 42.20 percent as compared to that in May 2019.

"The decline in exports was the lowest since July 2016, at $9.6 billion," Suhariyanto stated.

This occurred since export destination countries experienced an economic slowdown and lowered social and economic activities owing to the COVID-19 pandemic.

Hence, Suhariyanto has cautioned to remain watchful for a further decline in exports and imports, particularly in the imports of raw materials and capital goods.

"One needs to really look out for a decline in the imports of raw materials and capital goods, as it could impact domestic industrial and trade activities," he added.

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