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Indonesia enjoys trade surplus in 33 straight months

Jakarta Globe - February 15, 2023

Jakarta – Indonesia extended the positive run of international trade to 33 straight months with another surplus of $3.87 billion in January, the Central Statistics Agency of BPS reported on Wednesday.

The country's exports stood at $22.31 billion in January, down 6.36 percent from the previous month but increasing by 16.37 percent on a year-on-year basis.

Its imports were valued at $18.44 billion in January, a slight increase of 1.27 percent from the same month of last year.

"Indonesia's trade balance has been in surplus for the 33rd consecutive month since May 2020," BPS deputy head Habibullah said in a news conference.

Three countries with which Indonesia had the biggest surplus in January include the United States ($1.17 billion), the Philippines ($909 million), and India ($810.5 million), according to BPS data.

Indonesia's biggest deficit occurred in bilateral trade with Thailand ($398.8 million), Australia ($353.1 million), and Argentina ($247.1 million).

In overall trade with ASEAN member countries, Indonesia also enjoyed a surplus of $1.42 billion in January. Only with Thailand and Laos did Indonesia suffer a trade deficit.

China is Indonesia's biggest destination for non-oil and gas exports, amounting to $5.25 billion or 25.2 percent of Indonesia's overall exports by the destination country. However, China is also Indonesia's biggest source of non-oil imports which stood at $5.32 billion (34.2 percent), resulting in a deficit on the Indonesian side.

Source: https://jakartaglobe.id/business/indonesia-enjoys-trade-surplus-in-33-straight-month