Indonesia's Trade Surplus Falls 52.5% in January 2022

The Central Statistics Agency (BPS) reported a US$932.9 million trade surplus for Indonesia in January 2022.

This surplus decreased by 52.5% compared to the same period the previous year, where Indonesia's trade surplus reached US$1.96 billion in January 2021.

Indonesia's January 2022 trade surplus also decreased by 7.41% compared to December 2021, which amounted to US$1 billion.

Exports and Imports Decline

Month-on-month, the decrease in Indonesia's trade balance in January 2022 was due to a decline in both export and import values.

Indonesia's export value was recorded at US$19.2 billion, down 14.29% from the previous month. Meanwhile, Indonesia's import value was recorded at US$18.2 billion, down 14.62% from the previous month.

Year-on-year, however, import performance increased more than exports. BPS recorded a 36.77% increase in Indonesia's import value compared to January 2021. Meanwhile, exports increased by 25.31% year-on-year.

(Also Read: Indonesia Experiences Trade Deficit with 10 G20 Members, Which Countries?)