Indonesia's trade deficit with China plunges 47.99 percent

Indonesia's trade deficit with China plunges 47.99 percent

Archive -- Indonesian Ambassador to China Djauhari Oratmangun (left) in conversation with Chongqing Vice Mayor Tan Jialing Cunrong before opening Indonesia-China Business Forum in Chongqing, Jon, Friday (21/5/2021). ANTARA FOTO/M. Irfan Ilmie/rwa. (ANTARA FOTO/M. IRFAN ILMIE)

Beijing (ANTARA) - Indonesia's trade deficit with China plummeted 47.99 percent to US$190.79 million in the first quarter of 2022, from US$366.1 million during the same period last year, the Indonesian Embassy in Beijing stated.

Indonesia's imports from China rose 30 percent to US$16.47 billion in the first quarter of 2022 as compared to US$12.67 billion during the same period last year, the embassy noted on Friday.

Meanwhile, Indonesia's exports to China grew 32.32 percent to US$16.28 billion during the January-March 2022 quarter, from US$12.31 billion in the corresponding period a year earlier.

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Indonesian commodities whose exports to China rose significantly in the first three months of this year comprised iron and steel that jumped 2.35 percent; metal ore, 109.29 percent; various chemicals, 66.17 percent; organic chemical materials, 107.37 percent; and tin and its derivatives, 283.61 percent.

The others were aluminium and its derivatives, 69.66 percent; ceramics, 71.97 percent; processed feathers, artificial flowers, and human hair-made goods, 165.95 percent; and vegetable textile fiber, 70.09 percent.

Bilateral trade between Indonesia and China in the first quarter of 2022 totaled US$32.76 billion, up 31.14 percent as compared to US$24.98 billion during the corresponding period last year.

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The embassy further reported that China's investment in Indonesia during the January-March 2022 quarter had reached US$1.4 billion, up 40 percent as compared to the same period last year.

China is the third-biggest investor in Indonesia after Singapore and Hong Kong.

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