"Hence, the trade balance until August 2022 posted a surplus for 28 consecutive months since May 2020," BPS Deputy for Distribution Statistics and Services Setianto stated at a press conference here on Thursday.
Setianto remarked that the trade balance surplus in August 2022 was supported by the non-oil and gas commodity balance surplus.
The non-oil and gas trade balance recorded a surplus of US$7.74 billion, with the main commodities contributing to the surplus being mineral fuels, iron and steel, vegetable fats, and animal oils.
Meanwhile, oil and gas trade balance recorded a deficit of US$1.98 billion, with the main commodities that contributed to the deficit being crude oil, oil products, and gas.
In August 2022, Indonesia recorded the largest trade surplus with India, the United States, and the Philippines.
Indonesia's trade with India recorded a surplus of US$1.8 billion, which was mainly contributed by trade in vegetable fats and oils, mineral fuels, and inorganic chemicals.
Meanwhile, the second surplus was recorded by Indonesia's trade with the United States reaching as much as US$1.6 billion, with main contributors to the surplus being machinery, electrical equipment and its components, vegetable oil and animal fats, as well as clothing and knitted accessories.
The third country that contributed to the surplus for Indonesia was the Philippines, with a value of US$1.09 billion, with the main commodities that made the largest contribution to the surplus being mineral fuels, vehicles and its components, as well as iron and steel.
"Regarding Indonesia's non-oil and gas trade balance deficit in August 2022, three countries -- Australia, China and Thailand -- contributed to the largest deficit," Setianto remarked.
Indonesia's trade with Australia experienced a deficit of US$678.6 million, with the main commodities contributing to the deficit being cereals and mineral fuels.
Moreover, Indonesia's trade with China also experienced a deficit of US$411.7 million, with several commodities that were the largest contributors to the deficit being machinery, mechanical equipment and its components, as well as electrical equipment and its components.
Indonesia's trade with Thailand experienced a deficit of US$289.1 million, with the main contributors to the deficit being machinery, mechanical equipment and its components, as well as plastic commodities and plastic goods.
Cumulatively, the trade balance during the January-August 2022 period experienced a surplus of US$34.92 billion, or grew 68.6 percent, as compared to the same period last year.
Export value during the January-August 2022 period had reached US$194.60 billion, an increase of 35.42 percent. Meanwhile, the value of imports amounted to US$159.69 billion, an increase of 29.84 percent.
"Hence, the goods trade balance surplus is supported by non-oil and gas trade balance surplus," Setianto noted.
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Translator: Katriana
Editor: Sri Haryati
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