Indonesia’s trade balance recorded US$2.1 billion surplus in Dec 2020

Jakarta Indonesia posted a trade surplus of US$2.1 billion, with export value totaling $16.54 billion and imports totaling $14.44 billion, according to Statistics Indonesia (BPS).

“In December 2020, Indonesia’s trade balance showed a surplus of US$2.10 billion,” Head of BPS Suhariyanto stated during a virtual press conference on Friday.

The BPS head expounded that Indonesia’s export value in December 2020 increased by 8.39 percent month-on-month and rose by 14.63 percent year-on-year owing to an increase in exports in the agriculture, industry, and mining sectors.

Meanwhile, imports in December 2020 increased by 14 percent on a monthly basis, while on an annual basis, it declined slightly by 0.47 percent.

The surplus in December 2020 stemmed chiefly from several commodities, including vegetable oils, mineral fuels, iron, and steel.

In December 2020, Indonesia experienced trade surpluses with several countries: $1.23 billion with the United States, $866 million with India, and US$468.9 million with the Philippines.

On the other hand, Indonesia continued to record a trade deficit of $1.1 billion with China, US$260 million with Australia, and $203 million with Brazil.

Cumulatively, during the January-December 2020 period, Indonesia’s trade balance booked a surplus of $21.74 billion, with a total export value of $163.3 billion and total import value of $141.5 billion.

Suhariyanto noted that Indonesia’s trade surplus of $21.74 billion last year was the highest since 2011 — the year when Indonesia’s trade balance experienced a surplus of $26.06 billion.

Source: Antara News

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