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Indonesia books trade surplus for 12 consecutive months
Indonesia’s trade surplus was at US$2.19 billion in April, widening by 39.5 percent from March, marking a rebound from a deficit seen last year.
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PT Indonesia Port Corporation (IPC) car terminal workers use cranes to lift jet bridge parts produced by PT Bukaka Teknik Utama Tbk for exports at Tanjung Priok seaport in North Jakarta on Aug. 3. Export activities have continued at the facility despite the COVID-19 pandemic. (Antara/Aditya Pradana Putra)
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ndonesia has booked a surplus in foreign trade for 12 consecutive months since May last year, according to new official data, as the country benefits from a rebound in demand from trading partners and higher commodity prices.
Statistics Indonesia (BPS) revealed on Thursday that Indonesia’s trade surplus was at US$2.19 billion in April, widening by 39.5 percent from March and marking a rebound from a deficit seen in the same month last year.
Indonesia’s foreign trade performance has beat market expectations as the surplus widened with both exports and imports accelerating recently, regardless of tighter pandemic restrictions, said Sonia Zhu, an associate economist at financial intelligence firm Moody’s Analytics.
“Indonesia remains well-positioned to benefit from recovering overseas demand in the months ahead, especially as global vaccinations pick up,” Zhu said in an analysis released on Thursday. “We expect the upbeat trade performance to continue in the following month and buttress Indonesia’s economic recovery.”
The COVID-19 pandemic has led to a series of monthly trade surpluses since last year, as the country’s exports recovered faster than its imports. As a result, the annual trade surplus climbed to a decade high of $21.74 billion last year, which suggested a slow recovery at home.
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