As of February 2023, Indonesia's trade balance has been in surplus for 34 consecutive months since May 2020, and currently, the trend is still increasing.
Jakarta (ANTARA) - Statistics Indonesia (BPS) announced that Indonesia's trade balance in February 2023 experienced a surplus of US$5.48 billion (Rp84.7 trillion), supported by a surplus in the non-oil and gas sector of US$6.70 billion (Rp103.56 trillion).

Meanwhile, trade in the oil and gas sector recorded a deficit of US$1.22 billion (Rp18.86 trillion).

"As of February 2023, Indonesia's trade balance has been in surplus for 34 consecutive months since May 2020, and currently, the trend is still increasing," Deputy for Product Statistics at BPS M. Habibullah noted in a press conference, here, on Wednesday.

The three largest contributors to the surplus in the non-oil and gas sector in February 2023 were the machine, electrical equipment, and their parts; animal or vegetable oil and fat; as well as tin and its derivative products, he remarked.

The BPS deputy noted that the three sectors recorded a surplus of US$141 million (Rp2.18 trillion), US$106.2 million (Rp1.64 trillion), and US$46.4 million (Rp717.2 billion), respectively.

He remarked that the United States, India, and China were the three countries having contributed the most to Indonesia’s trade balance surplus in February 2023.

The trade balance surplus with the United States amounted to US$1.32 billion (Rp20.4 trillion).

The most exported commodities to the country included machinery, electrical equipment, and their parts; non-knitted clothing and their accessories; as well as knitted clothing and their accessories.

The commodities that became the largest contributors to Indonesia’s trade balance surplus with India were mineral fuels; animal or vegetable fats and oils; as well as metal ores, slag, and ash. The trade surplus with India was recorded at US$1.081 billion (Rp16.7 trillion).

Furthermore, Indonesia posted a trade surplus with China of US$999.8 million (Rp15.4 trillion), with iron and steel; mineral fuels; as well as animal or vegetable fats and oils as being the most exported commodities.

Meanwhile, the three biggest contributors to Indonesia’s trade balance deficit in February 2023 were Australia (US$400.4 million or Rp6.19 trillion), Thailand (US$342.1 million or Rp5.29 trillion), and Brazil (US$158.8 million or Rp2.45 trillion).

Habibullah stated that during the January-February 2023 period, the non-oil and gas sector clocked a surplus of US$12 billion (Rp185.48 trillion), while the oil and gas sector had recorded a deficit of US$2.64 billion (Rp40.81 trillion).

Hence, Indonesia recorded a surplus of US$9.36 billion (Rp144.68 trillion) during the first two months of 2023, he stated.

However, the value of exports in February 2023 had declined by 4.15 percent as compared to January 2023 (month-to-month/m-to-m), the BPS deputy stated.

He explained that it was caused due to a decrease by 20.26 percent in the value of oil and gas exports.

He stated that the value of imports in February 2023 also decreased by 13.68 percent m-to-m due to less imports of raw or supporting materials by 15.09 percent.

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Translator: Maria Prayudhia, Uyu Liman
Editor: Rahmad Nasution
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