Impact of the Russia-Ukraine War: Indonesia Posts US$217.2 Million Trade Deficit with Russia in January-April

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Dzulfiqar Fathur Rahman 24/05/2022 17:40 WIB

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Indonesia's Central Bureau of Statistics reported a US$217.2 million trade deficit with Russia during the January-April period.

Balance of Trade in Goods with Russia (January–April 2021 and 2022)

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Impact of the Russia-Ukraine War: Indonesia Posts US$217.2 Million Trade Deficit with Russia in January-April

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Balance of Trade in Goods with Russia (January–April 2021 and 2022)

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Indonesia recorded a trade deficit with Russia in the first four months of 2022, following the war between the Eastern European country and Ukraine, according to the Central Statistics Agency (BPS).

BPS reported that Indonesia recorded a trade deficit with Russia of US$217.2 million in the January-April period. This deficit reversed a surplus of US$48.3 million in the same period the previous year.

At the end of February, Russia invaded Ukraine, attacking the country with missiles and air strikes. This war has caused tens of thousands of casualties and disrupted the supply of key commodities, such as wheat.

"This shows that the Russia-Ukraine conflict is harming us. It's evident that our trade balance for the past four months shows a deficit with both countries, compared to last year when we still had a surplus from Ukraine (and) Russia," said BPS head Margo Yuwono.

Based on BPS data in March 2022, Indonesia's main exports to Russia included animal or vegetable fats and oils, rubber and rubber products, and electrical machinery or equipment. Meanwhile, Indonesia's main imports from Russia included iron and steel, fertilizers, and mineral fuels.

Editor : Annissa Mutia

"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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Impact of the Russia-Ukraine War: Indonesia Posts US$217.2 Million Trade Deficit with Russia in January-April

Impact of the Russia-Ukraine War: Indonesia Posts US$217.2 Million Trade Deficit with Russia in January-April

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