In July (2022), the surplus was generated from export values of US$25.57 billion and import values of US$21.35 billion.
Jakarta (ANTARA) – Indonesia’s trade balance recorded a surplus of $4.23 billion in July 2022, making it the 27th consecutive month that Indonesia has recorded a surplus since May 2020, Statistics Indonesia said. (BPS).
“In July (2022), the surplus was generated from export values of $25.57 billion and import values of $21.35 billion,” the MP for statistics noted on Monday. on the distribution and service of BPS Setianto during a press conference.
Setianto noted that most of the surplus came from non-oil and gas commodities which recorded a surplus of $7.31 billion. The main contributors to the surplus are mineral fuels; vegetable and animal fats and oils; as well as metallic ore, crust and ash.
Meanwhile, Indonesia’s oil and gas trade saw a deficit of US$3.08 billion in July 2022, with crude oil and petroleum-derived products being the main contributors to the deficit.
Additionally, BPS reported that Indonesia enjoys the largest trade surpluses with the United States (US), India and the Philippines.
Indonesia recorded a surplus of US$1.64 billion with the United States in trade in vegetable and animal fats and oils; Clothes and accessories; as well as electrical equipment machinery and parts thereof.
Indonesia’s trade surplus with India reached US$1.62 billion due to trade in mineral fuels; vegetable and animal fats and oils; as well as metal ore, crust and ash being the main contributors to the surplus.
Indonesia’s trade with the Philippines registered a surplus of US$1.08 billion, mainly due to trade in mineral fuels; vehicle and its parts; as well as vegetable and animal fats and oils.
Meanwhile, Indonesia recorded the biggest trade deficit with China, Australia and Thailand.
Setianto said the US$914.5 million trade deficit with China was caused by machinery trade; mechanical equipment and its parts; as well as electrical equipment and its parts.
In addition, Indonesia’s trade deficit with Australia amounted to US$523.8 million, resulting mainly from trade in mineral fuels and grains.
Indonesia recorded a deficit of US$318.6 million with Thailand, in the form of sugar and confectionery; plastics; as well as plastic products were the main contributors.
Thus, Indonesia’s trade balance surplus during the period from January to July 2022 had reached US$29.17 billion, with total exports and imports of US$166.70 billion and 137 US$.53 billion respectively.
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