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Trade surplus maintained in January despite rising imports, falling exports
The latest data from Statistics Indonesia (BPS) shows that Indonesia continued to export more than it imported in January, but the trade surplus is narrowing.
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Workload: Containers are loaded and unloaded on Oct. 16, 2023 at Tanjung Priok port in North Jakarta. Statistics Indonesia (BPS) recorded a US$3.42 billion surplus in the country’s trade balance in September, up $300 million month on month. (Antara/Aditya Pradana Putra)
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ndonesia’s trade surplus narrowed further as exports dropped and imports rose in January, according to data released by Statistics Indonesia (BPS) on Thursday.
Acting BPS head Amalia Adininggar Widyasanti revealed in a press briefing on the same day that the trade surplus amounted to US$2 billion, marking the 45th consecutive month that the balance was positive.
However, she pointed out that exports were down 8 percent year-on-year (yoy) at $20.52 billion, after plunging 8.34 percent month-to-month (mtm).
“The deepest drop occurred in the mining sector, which declined by 23.93 percent [mtm],” said Amalia, explaining that a drop in the value of mineral fuel shipments was the main cause for the drop.
Meanwhile, imports in January were up 0.36 percent yoy at $18.51 billion, despite declining 3.13 percent mtm.
Amalia attributed the monthly decline mainly to a 20 percent drop in the value of incoming oil and gas shipments.
Imports of machinery, on the other hand, rose in January, like rice.
