Amidst the Threat of a Global Recession, Indonesia's Trade Balance Returns to Surplus in September 2022

Indonesia's trade balance with its partners still recorded a surplus amidst the strengthening threat of a global recession.

The Central Statistics Agency (BPS) reported that Indonesia's export value reached US$24.8 billion, equivalent to Rp372 trillion (with an exchange rate of Rp15,000 per US dollar) in September 2022. Meanwhile, the import value was only US$19.8 billion last month.

As a result, Indonesia's trade balance with partner countries again recorded a surplus of US$4.99 billion, equivalent to Rp75 trillion last month. This surplus is the 29th consecutive surplus, as shown in the graph.

Details show that non-oil and gas trade recorded a surplus of US$7.09 billion, while oil and gas trade experienced a deficit of US$2.1 billion.

Cumulatively, throughout the January-September 2022 period, Indonesia's trade balance had a surplus of US$39.87 billion. This value increased by 12.56% from the same period the previous year.

National non-oil and gas trade recorded a surplus of US$58.75 billion, while the oil and gas trade balance experienced a deficit of US$18.89 billion in the first nine months of this year.