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Exports decline for sixth consecutive month
February marks the 34th month in a row where Indonesian exports exceeded imports, but both figures are on a declining trend in a reflection of the global economic slowdown.
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Workers use a crane to move a container at Tanjung Priok Port’s container terminal in North Jakarta on Aug. 5, 2022. (Antara/Rivan Awal Lingga)
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ndonesia has achieved a 34th consecutive monthly trade surplus, but a declining trend in both exports and imports reflect the global economic slowdown.
Trade data released by Statistics Indonesia (BPS) on Wednesday show that the country shipped out goods valued at a total of US$21.4 billion in February, which was 4.15 percent less than in January.
Imports, meanwhile, dropped at a much faster rate, tumbling by 13.68 percent to $15.92 billion, which translates to a trade surplus of $5.48 billion for February.
Both figures have been consistently declining since September last year, the only exception being December, when heightened demand for Christmas and New Year led to a monthly rise in imports.
“The trade surplus in February 2023 comes amid an import decrease that was way larger than the export decrease,” BPS deputy head Muhammad Habibullah said on Wednesday.
Every sector contributed to last month’s decrease in exports, but the biggest drop happened in oil and gas, where shipments plunged by 20.26 percent.
