Indonesia's Trade Surplus Falls Month-on-Month in May 2022

The Central Statistics Agency (BPS) reported that Indonesia's trade balance recorded a surplus of US$2.89 billion in May 2022.

This surplus value decreased by 61.77% month-on-month (mom) compared to the April 2022 surplus of US$7.56 billion.

However, year-on-year (yoy), the May 2022 surplus increased by 7.43% compared to May 2021, as shown in the graph.

According to BPS records, the May 2022 surplus decreased month-on-month due to a larger decline in exports compared to the decline in imports.

The value of exports in May 2022 was recorded at US$21.51 billion, down 21.29% (mom) from the previous month. This decline was pressured by the plummeting value of non-oil and gas exports, which fell 22.71% (mom) to US$20.01 billion. Meanwhile, the value of oil and gas exports increased by 4.38% (mom) to US$1.43 billion.

Meanwhile, the value of imports only decreased by 5.81% (mom) to US$18.61 billion. The details are: non-oil and gas imports decreased by 4.31% (mom) to US$15.25 billion, and oil and gas imports decreased by 12.07% (mom) to US$3.35 billion.

By sector, the non-oil and gas trade balance recorded a surplus of US$4.75 billion in May 2022. This surplus decreased by 52.21% (mom) compared to April 2022, which amounted to US$9.94 billion.

However, the non-oil and gas surplus increased year-on-year by 25.32% (yoy) compared to May 2021, which was valued at US$3.79 billion.

Meanwhile, the oil and gas trade balance still recorded a deficit of US$1.85 billion in May 2022. This deficit decreased by 22.26% (mom) compared to April 2022, which amounted to US$2.38 billion.

However, the oil and gas deficit increased year-on-year by 69.72% (yoy) compared to May 2021, which was valued at US$1.09 billion.

(Also read: [Indonesia's Export and Import Values Decreased Month-on-Month in May 2022](https://databoks.katadata.co.id/datapublish/2022/06/15/nilai-ekspor-dan-impor-ri-turun-secara-bulanan-pada-mei-2022))