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RI maintains trade surplus despite plunging exports
Outgoing shipments of goods dropped in April partly because of fewer working days that month and partly because of lower prices for some export commodities.
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A worker walks at the container terminal at Tanjung Priok port in North Jakarta on June 16, 2023. (Antara/Aprillio Akbar)
I
ndonesia’s trade surplus narrowed in April as exports dropped more than imports from the preceding month, partly because of fewer working days and partly because of a fall in prices for some export commodities, notably crude palm oil (CPO).
The trade balance remained in surplus for the 48th month in a row as exports exceeded imports by US$3.56 billion, according to Statistics Indonesia (BPS) data published on Wednesday.
However, the trade surplus dropped by more than a fifth when compared to the preceding month and came in almost 10 percent lower than in April last year.
Josua Pardede, chief economist at private lender Bank Permata, noted in a statement on Wednesday that the trade surplus was continuing to shrink amid normalizing global commodity prices and heightened global uncertainty that had hampered world trade and demand.
“This April, both exports and imports saw declines, particularly due to fewer working days amid the Idul Fitri festivities,” Josua said.
Read also: Govt to undo latest curbs on personal imports
The country exported $19.62 billion worth of goods last month, which marks a decline of 13 percent from the previous month but still represents an uptick of 1.72 percent year-on-year (yoy).
