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Trade surplus hits 14-year high in 2021

The full-year surplus amounted to US$35.34 billion amid surging commodity prices, the highest since 2007.

Norman Harsono (The Jakarta Post)
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Jakarta
Mon, January 17, 2022

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Trade surplus hits 14-year high in 2021 Cranes work to load and unload containers at Tanjung Perak Port in Surabaya, East Java, in an undated photo. The port, one of the country's biggest, is operated by state-owned port operator Pelindo III. (Antara/Zabur Karuru)

I

ndonesia recorded in 2021 its highest goods trade surplus since 2007 as commodity prices surged amid the global economic recovery from the COVID-19 pandemic.

Statistics Indonesia (BPS) reported Monday that the country’s exports reached US$231.54 billion and imports $196.20 billion in 2021. This resulted in a surplus worth $35.34 billion, the highest since $39.63 billion reached in 2007.

"We hope we can maintain this trend or increase it," BPS head Margo Yuwono said in a press briefing on Monday. "Of course, this will help with the government's efforts to restore the economy faster, as we all expect."

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The record trade surplus took place amid surging commodity prices, including Indonesia’s key export commodities of coal and crude palm oil (CPO), amid the global economic recovery, especially in developed countries.

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