Mohamad Edy Mahmud, Deputy for Statistical Analysis at BPS, noted in a virtual press conference on Thursday that the surplus in May 2023 was lower compared to the achievement in April 2023, which reached US$3.94 billion.
The amount is also lower than the surplus of US$2.9 billion recorded in May 2022.
The trade of non-oil and gas commodities registered a surplus of US$2.26 billion. The biggest contributors to the surplus were mineral fuels, animal and vegetable fats and oils, as well as iron and steel.
Meanwhile, the trade of oil and gas commodities recorded a deficit of US$1.82 billion, with crude oil and oil derivative products contributing the most to the deficit.
During the period from January to May 2023, the oil and gas sector experienced a deficit of US$7.83 billion, while the non-oil and gas sector had a surplus of US$24.31 billion.
Hence, Indonesia’s trade balance experienced a surplus of US$16.48 billion in total during the first five months of 2023.
BPS also noted that Indonesia's export value in May 2023 had reached US$21.72 billion, increasing by 12.61 percent month-to-month. It also rose by 0.96 percent compared to May 2022.
Furthermore, Indonesia's import value had reached US$21.28 billion in May 2023, up by 38.65 percent compared to the imports recorded in April 2023. Additionally, it increased by 14.35 percent year-on-year.
"The value of the surplus in May 2023 is the lowest since May 2020 or in the last 37 months," Mahmud stated.
The agency also noted that the top destinations for Indonesia’s non-oil and gas commodity exports were China, the United States, Japan, and India.
Meanwhile, Indonesia’s imports of non-oil and gas commodities mainly came from China, Japan, Thailand, and the United States.
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Translator: Ade Junida, Uyu Liman
Editor: Anton Santoso
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