Advenia Elisabeth/MPI
IDXChannel - Indonesia’s balance of trade experienced a surplus of USD5.48 billion in February 2023. Indonesia recorded a trade surplus for 34 consecutive months.
According to the Central Statistics Agency (BPS), it was mainly affected by a surplus of non-oil and gas of USD6.70 billion. On the other hand, there was a deficit of USD1.22 billion in the country’s oil and gas sector.
“Since May 2020 until February 2023, Indonesia’s trade balance recorded a surplus for 34 consecutive months. And the trend is ongoing,” said BPS Deputy for Production Statistics M Habibullah in an official release on Wednesday (15/3/2023).
The trade deficit in the oil and gas sector was mainly driven by crude oil and oil products, while the trade surplus in the non-oil and gas sector was primarily driven by mineral fuel, animal/vegetable oil, iron and steel products.
Habibullah further explained, based on the country of origin, three countries were the largest contributors to the non-oil and gas surplus in February 2023, namely the United States, India and China.
