Jakarta: Indonesia's trade balance maintained a USD3.61 billion surplus in October 2020 after amassing USD2.39 billion one month earlier.
The trade surplus recorded in September 2020 was primarily influenced by a non-oil and gas trade surplus, which stood at USD4.06 billion in the reporting period, up from USD2.89 billion one month earlier.
The increase stemmed from a surge of non-oil and gas exports, particularly iron and steel, animal/vegetable fats and oil, minerals, as well as motor vehicles and components.
On the other hand, the oil and gas trade balance experienced a USD0.45 billion deficit on rising imports, refined products in particular, that exceeded the bump in oil and gas exports.
"It was a significant improvement. It was also influnced by decreasing imports. That is why we recorded a sharp increase," said the Central Statistics Agency (BPS) chairman Suhariyanto in a video conference here on Monday.
Cumulatively, the country's trade balance reocrded a USD17.07 billion surplus in the January-October 2020 period, improving from USD2.12 billion deficit in the same period last year.