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View all search resultsRI maintains trade surplus despite oil, coal export slump
Exports slipped to US$24.24 billion in October, down 2.31 percent year-on-year (yoy), weighed heavily by a steep 33.6 percent plunge in oil and gas shipments.
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A vessel loaded with containers is docked on May 19 at Pasir Panjang port in Singapore. Indonesia's exports dropped in October because of declining oil and gas shipments. (AFP/Roslan Rahman)
Indonesia extended its trade surplus in October despite a slowdown in exports amid declining oil and gas shipments.
Statistics Indonesia (BPS) deputy for distribution and services Pudji Ismartini said in a press conference on Monday that the country posted a trade surplus of US$2.39 billion in October, marking the 66th consecutive monthly surplus since May 2020. However, the figure was down from the $4.34 billion surplus recorded in September.
The October surplus was largely supported by non-oil and gas commodities, particularly crude palm oil, coal, iron and steel.
In contrast, the oil and gas sector booked a $1.92 billion deficit, weighed down mainly by crude oil and oil products.
“Cumulatively, the January-October period recorded a surplus of $35.88 billion. This surplus was supported by a $51.51 billion surplus in the non-oil and gas sector, while oil and gas remained in deficit at $15.63 billion,” Pudji said.
Read also: Manufacturing exports drive trade surplus as coal price remains low
Exports slowed in October to $24.24 billion, down 2.31 percent year-on-year (yoy). Pudji said the drop was largely driven by a 33.6 percent decline in oil and gas exports, while non-oil and gas exports also fell by 0.51 percent.
