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Jakarta Post

Indonesia books record high trade surplus in 2020

  • Adrian Wail Akhlas

    The Jakarta Post

Jakarta   /   Fri, January 15, 2021   /  06:25 pm
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Set for shipment: Multipurpose vehicles are parked at Tanjung Priok Port’s car terminal prior to being exported in this file photo.(Antara/Aditya Pradana Putra)

Indonesia booked a record trade surplus in 2020 as imports fell steeper than exports during a tumultuous year for international trade as the COVID-19 pandemic disrupted supply chains and hit global demand. The country logged a trade surplus of US$21.74 billion last year, the second-highest figure in the country’s history, as imports plunged, a signal that economists said reflected a lagging domestic economic recovery compared with its main trading partners, such as China. “The trade surplus is the highest since 2011 when it stood at $26.06 billion,” Statistics Indonesia (BPS) head Suhariyanto told a virtual press briefing on Friday. Like global trade in general, Indonesia’s trade has suffered from the pandemic, which has caused logistical disruptions and declines in domestic demand and purchasing power as a result of social restrictions implemented to cur...