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.
"For the United States, the trade surplus was USD1,328.4 million. The main commodities were machinery and electrical equipment and their parts, clothing and accessories (not knitted), as well as clothing and accessories (knitted)," he explained.
Meanwhile, Indonesia recorded a trade surplus of USD1,081.0 million against India. The main commodities were mineral fuels, fats and animal/vegetable oils, and metal ores.
With China, Indonesia recorded a trade surplus of USD999.8 million. The main contributing commodities were iron and steel, mineral fuel, and vegetable oil products.
(WHY)
