Jakarta: Indonesia's trade balance recorded a surplus of USD2 billion in February 2021, the Central Statistics Agency (BPS) announced on Monday.
According to the government agency, Indonesia's total export value reached USD15.27 billion in February 2021.
On the other hand, the country's total import value stood at USD13.26 billion last month.
"We recorded a trade surplus of USD2 billion in February 2021. We hope that our export performance could continue to improve in the future. Imports of raw materials are also expected to rebound," BPS chairman Suhariyanto said during a virtual press conference.
Indonesia’s official reserve assets stood at USD138.8 billion as of end-February 2021, increased from USD138.0 billion as of end-January 2021.
The position of official reserve assets was equivalent to finance 10.5 months of imports or 10.0 months of imports and servicing government’s external debt, well above the international adequacy standard of three months imports.
The official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability.
The increase of official reserve assets in February 2021 was primarily underpinned by the government’s foreign loan withdrawal and tax receipts.
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