Thursday, 16 March 2023 07:51

RI Trade Balance Surplus US$5.48 Bn in February 2023

The Central Statistics Agency (BPS) noted that Indonesia's trade balance again recorded a surplus of US$5.48 billion in February 2023.
The trade balance returned to surplus for the 34th time due to better export performance compared to imports.

"So Indonesia's trade balance until February 2023 has posted a surplus for 34 consecutive months since May 2020 and is still on an increasing trend," said BPS Deputy for Production Statistics M Habibullah in a press conference, Wednesday (15/3).
Indonesia's exports in February 2023 were recorded at US$21.40 billion. This value is up 4.51 percent when compared to February 2022 which amounted to US $ 20.47 billion.

The increase in annual exports was supported by oil and gas exports which rose 19.27 percent from US$990 million to US$1.19 billion and non-oil and gas exports rose 3.76 percent from US$19.48 billion to US$20.21 billion.
If broken down by sector, non-oil and gas exports from the agriculture, forestry and fisheries industries fell 2.08 percent and the processing industry fell 0.09 percent. Meanwhile, the mining and other sectors still grew 20.93 percent.

However, when compared to January 2023 which was recorded at US$22.32 billion, export performance fell 4.15 percent. This was because oil and gas exports fell 20.26 percent from US$1.49 billion to US$1.19 billion and non-oil and gas exports fell 3 percent from US$20.83 billion to US$20.21 billion.
On a monthly basis, all export sectors recorded a decline. Oil and gas fell 20.26 percent, agriculture, forestry and fisheries fell 2.62 percent, mining and others fell 9.46 percent, and the processing industry fell 0.86 percent.




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