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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?)
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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