Indonesia's Exports and Imports Surge in August 2021

The Central Statistics Agency (BPS) reported that Indonesia's exports reached US$21.42 billion in August 2021. This figure increased by 20.95% compared to July 2021, which amounted to US$17.71 billion (m-to-m). Meanwhile, the value increased by 64.1% from August 2020, which was US$13.1 billion (yoy).

The increase in Indonesia's export value month-on-month was driven by a 21.75% increase in non-oil and gas exports, from US$16.72 billion to US$20.36 billion. Oil and gas exports also increased by 7.48%, from US$992.5 million to US$1.07 billion.

Year-on-year, non-oil and gas exports increased by 63.43% from US$12.46 billion. Oil and gas exports experienced a year-on-year increase of 77.93% from US$599.6 million.

Meanwhile, Indonesia's import value was recorded at US$16.68 billion in August 2021. This amount increased by 10.35% compared to July 2021, which was US$15.11 billion. Its value also increased by 55.26% from August 2020, which was US$10.74 billion.

The month-on-month increase in imports was driven by non-oil and gas imports, which grew by 9.76% from US$13.33 billion. Oil and gas imports increased by 14.74% month-on-month from US$1.79 billion.

Year-on-year, non-oil and gas imports increased by 49.39% from US$9.79 billion. Oil and gas imports increased by 115.75% year-on-year from US$949.8 million.

Furthermore, Indonesia's export value was higher than its imports, resulting in a trade surplus of US$4.7 billion in August 2021. This surplus increased from the previous month's US$2.6 billion. The figure is also higher than August 2020's US$2.3 billion.