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Indonesia reports trade surplus for 23rd month in a row

Jakarta Globe - April 18, 2022

Herman, Jakarta – Indonesia recorded a surplus of $4.53 billion in March to continue a run of a positive trade balance for the 23rd month in a row, the Central Statistics Agency, or BPS announced on Monday.

The country's exports grew by 29.42 percent to $26.5 billion compared with the previous month, while imports increased by 32.01 percent to $21.97 billion.

During the first quarter of the year, the overall trade surplus reached $9.33 billion.

Deficit with Russia and Ukraine

BPS Head Margo Yuwono said Indonesia saw a deficit in the bilateral trade with warring countries Russia and Ukraine.

"Indonesia's trade balance with Russia saw a deficit of $204.6 million on our side from January through March, and we also had a deficit of $13.5 million with Ukraine," Margo said.

Indonesia's exports to Russia dropped by 48.7 percent to $399.6 million in the first quarter of the year compared to the same period of last year.

Source: https://jakartaglobe.id/business/indonesia-reports-trade-surplus-for-23rd-month-in-a-ro