Indonesia's Trade Surplus Rises to US$4.7 Billion in August 2021

The Central Statistics Agency (BPS) reported that Indonesia's trade balance surplus reached US$4.7 billion in August 2021. This surplus increased by 82.6% compared to July 2021, which was US$2.6 billion. It also increased by 105.1% from August 2020, which reached US$2.3 billion.

The increase in surplus was driven by higher export growth than import growth. Indonesia's export value was recorded at US$21.4 billion in August 2021, up 20.95% compared to the previous month, which was US$17.71 billion. This value also increased by 64.1% from August 2020, which was US$13.1 billion.

Meanwhile, Indonesia's import value was recorded at US$16.68 billion in August 2021, up 10.35% from July 2021, which was US$15.1 billion. Compared to the same period last year, which was US$10.7 billion, the increase in Indonesia's import value was 55.26%.

By sector, the non-oil and gas trade balance had a surplus of US$5.7 billion in August 2021. This surplus increased by 68.8% compared to July 2021, which was US$3.4 billion. Its value also grew by 115.1% from August 2020, which was US$2.7 billion.

Meanwhile, the oil and gas trade balance still had a deficit of US$982.4 million last month. This deficit increased by 23.8% compared to July 2021, which was US$793.4 million. The figure also increased by 180.5% from August 2021, which was US$350.2 million.