Indonesia's Trade Balance Records a US$3.87 Billion Surplus in January 2023, a Record 33 Consecutive Months

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Cindy Mutia Annur 16/02/2023 14:23 WIB

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Indonesia's Central Statistics Agency (BPS) reported a trade surplus of US$3.87 billion in January 2023. This achievement marks a record 33 consecutive months of surplus for Indonesia.

Indonesia's Balance of Trade (January 2020 – January 2023)

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Indonesia's Trade Balance Records a US$3.87 Billion Surplus in January 2023, a Record 33 Consecutive Months

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Indonesia's Balance of Trade (January 2020 – January 2023)

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The Central Statistics Agency (BPS) reported that Indonesia's trade balance recorded a surplus of US$3.87 billion in January 2023.

M. Habibullah, Deputy for Production Statistics, stated that this surplus at the beginning of 2023 adds to Indonesia's trade balance record, which has been in surplus since May 2020. "This means the trade balance has recorded a surplus for 33 consecutive months," Habibullah said in a press conference on Wednesday (February 15, 2023).

The trade surplus in January 2023 was significantly higher than the trade surplus in January 2022, which amounted to US$962.6 million. However, last month's trade balance realization was lower than that of December 2022, which reached US$3.96 billion.

The trade surplus in January 2023 was supported by higher export values compared to import values.

Indonesia's export value in January 2023 was recorded at US$22.31 billion, down 6.36% month-on-month (mom), while the import value was recorded at US$18.44 billion, down 7.15% mom.

According to Habibullah, the trade surplus was also supported by a non-oil and gas commodity balance surplus of US$5.29 billion. The main contributors were mineral fuels (HS 27), animal or vegetable fats and oils (HS 15), and iron and steel (HS 72).

On the other hand, the oil and gas commodity balance experienced a deficit of US$1.42 billion, mainly due to crude oil and oil products.

The three countries contributing to Indonesia's trade surplus in January 2023 were the United States (US$1.17 billion), the Philippines (US$909.2 million), and India (US$810.5 million).

Editor : Padjar Iswara

"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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Indonesia's Trade Balance Records a US$3.87 Billion Surplus in January 2023, a Record 33 Consecutive Months

Indonesia's Trade Balance Records a US$3.87 Billion Surplus in January 2023, a Record 33 Consecutive Months

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Indonesia's Trade Balance Records a US$3.87 Billion Surplus in January 2023, a Record 33 Consecutive Months

Indonesia's Trade Balance Records a US$3.87 Billion Surplus in January 2023, a Record 33 Consecutive Months

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