Indonesia's Trade Balance Surplus in 2022, but Deficit in 3 Countries

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Cindy Mutia Annur 18/01/2023 13:00 WIB

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Indonesia's trade balance recorded a surplus of US$54.46 billion throughout 2022. However, Indonesia experienced trade deficits with China, Australia, and Thailand.

Top 3 Countries Contributing to Indonesia's Non-Oil and Gas Trade Deficit (2022)

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Indonesia's Trade Balance Surplus in 2022, but Deficit in 3 Countries

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Top 3 Countries Contributing to Indonesia's Non-Oil and Gas Trade Deficit (2022)

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According to a report by Indonesia's Central Bureau of Statistics (BPS), Indonesia's trade balance recorded a surplus of US$54.46 billion throughout 2022. However, Indonesia still experienced a deficit with its three main trading partners.

"The three countries with the largest non-oil and gas trade deficits throughout 2022 were Australia, Thailand, and China," said BPS Head Margo Yuwono in a press conference on Monday (16/1/2023).

According to BPS data, Indonesia's trade deficit with Australia reached US$6 billion in 2022. This was due to imports from Australia reaching US$9.23 billion, exceeding Indonesia's exports to Australia, which amounted to only US$3.22 billion.

The commodities contributing the most to the deficit with Australia were mineral fuels (US$1.93 billion), cereals (US$1.72 billion), and metal ores, slag, and ash (US$880 million).

The second-largest contributor to Indonesia's trade deficit was Thailand, with a deficit of US$3.96 billion. Indonesia's imports from Thailand reached US$10.85 billion, while exports amounted to only US$6.89 billion.

The commodities driving the deficit with Thailand were plastics and plastic articles (US$1.30 billion), sugar and confectionery (US$1.19 billion), and machinery/mechanical appliances (US$1.17 billion).

Next, China contributed a deficit of US$3.61 billion, with imports reaching US$67.16 billion and exports at US$63.55 billion.

"The largest deficit with China was in the commodities of machinery/mechanical appliances, electrical machinery/equipment, and plastics and plastic articles," said Margo.

On the other hand, the United States contributed the largest trade surplus for Indonesia throughout 2022, amounting to US$18.89 billion. This was followed by India with a surplus of US$16.16 billion, and the Philippines with US$11.41 billion.

Editor : Adi Ahdiat

"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 Surplus in 2022, but Deficit in 3 Countries

Indonesia's Trade Balance Surplus in 2022, but Deficit in 3 Countries

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Indonesia's Trade Balance Surplus in 2022, but Deficit in 3 Countries

Indonesia's Trade Balance Surplus in 2022, but Deficit in 3 Countries

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