Indonesia Has Maintained Trade Surplus since May 2020: BI

Jakarta: Bank Indonesia (BI) is confident that the trade surplus will contribute to preserving external economic resilience in Indonesia. 
 
Moving forward, the central bank will continue to strengthen policy synergy with the Government and other relevant authorities in order to bolster external resilience, including the trade balance outlook.
 
According to data from the Central Statistics Agency (BPS), Indonesia's trade balance maintained a surplus in January 2021 despite narrowing slightly to USD1.96 billion from USD2.1 billion the month earlier. 

"Indonesia has maintained a trade surplus since May 2020," BI Communication Department Head Erwin Haryono said in press release on Monday.
 
The overall trade surplus recorded in January 2021 was influenced by a larger non-oil and gas trade surplus, which expanded to USD2.63 billion from USD2.56 billion in December 2020. 
 
Such developments were driven by a USD15.30 billion export gain after increasing USD16.54 billion one month earlier. 
 
Exports of natural resources, including crude palm oil (CPO), coal and metal ore, improved amidst declining exports of several manufacturing products.
 
Meanwhile, non-oil and gas imports decreased across all components on compressed demand. 
 
On the other hand, the oil and gas trade deficit increased slightly from USD0.46 billion in December 2020 to USD0.67 billion in January 2021, impacted by a combination of lower oil and gas exports and higher oil and gas imports.
 
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