Home » Indonesia Foresees Consecutive Trade Balance Surpluses Since May 2020

Indonesia Foresees Consecutive Trade Balance Surpluses Since May 2020

Anasya Dufana
09:00, 19 Apr 2023

According to Bank Indonesia (BI), Indonesia’s trade balance has been in surplus since May 2020. The trade balance surplus in March 2023 was USD 2.91 billion, or around IDR 43.2 trillion, according to BPS (Central Bureau of Indonesia Statistics) Statistics Indonesia (BPS) and BI Director of Communications Erwin Haryono.

However, the surplus was less than half of as much as it had been in February when it had totalled USD 5.46 billion or IDR 81.2 trillion. Erwin stated that non-oil and gas commodities continued to be the key driver of March’s trade balance surplus.

Indonesia trade surplus on March 2023 — Source ipotnews.com

Check out more information about Indonesia economice situation here

According to BPS statistics, the United States (USD 1.17 billion), the Philippines (USD 909 million), and India (USD 810.5 million) were the three nations in which Indonesia had the largest surplus in January. The largest deficits for Indonesia were with Thailand (USD 398.8 million), Australia (USD 353.1 million), and Argentina (USD 247.1 million). Indonesia also saw a USD 1.42 billion surplus in its overall trade with ASEAN nations in January. Indonesia only experienced a trade deficit with Thailand and Laos.

Despite expanding less quickly than in February, March’s non-oil and gas trade balance nonetheless showed a surplus of USD 4.58 billion or IDR 68.1 trillion, thanks in large part to non-oil and gas exports’ robust performance, which totalled USD 22.16 billion or IDR 329.5 trillion. Coal, precious metals, metal ores, iron, and steel were among the top non-oil and gas exports trade, according to Erwin, which benefited from the continued high pricing of raw materials throughout the world.

China is Indonesia’s top non-oil and gas export trade market, accounting for USD 5.25 billion, or 25.2% of all exports to China. China is Indonesia’s largest supplier of non-oil imports, which totalled USD 5.32 billion (34.2%) and contributed to a deficit on the Indonesian side.

Despite the fact that Indonesia’s monthly trade balance has been in surplus since May 2020, the oil and gas trade sector posted a loss of USD 1.68 billion or IDR 24.9 trillion in March.

Interested about this topic? Check out our other articles:

Foreigner Smears Oil to Evade Capture During Rampage at Kalibata City Mall

A foreign national was filmed rampaging at Kalibata City Mall in South Jakarta on 21 April 2025, triggering widespread outrage on social media. The video shows the man causing chaos inside the supermarket, where he allegedly damaged property and made disturbing threats towards his children. Lihat postingan ini di Instagram Sebuah kiriman dibagikan […]

British Child in Bali Allegedly Kidnapped by Biological Father

A British boy, identified as Georgie, also known by the initials SEB (8), was reported missing outside his residence on Jalan Tukad Punggawa I, Serangan Village, South Denpasar District, Bali. The incident quickly went viral, with initial fears of a kidnapping. However, police investigations have revealed that Georgie was not taken by a stranger. The […]

Art Jakarta Gardens Officially Opens, Celebrating Indonesia’s Contemporary Art Scene

Art Jakarta Gardens officially opened this afternoon at Hutan Kota by Plataran. This unique art fair, which focuses on outdoor artworks, features contributions from 25 local art galleries and showcases over 28 sculptures throughout the park’s scenic grounds. First launched in 2022 in response to the pandemic, Art Jakarta Gardens is now in its fourth […]

Indonesian Driving Licences to Be Valid Across ASEAN Starting June 2025

Beginning 1 June 2025, Indonesian driving licences will be recognised and valid across all ASEAN countries. This significant development means that holders of Indonesian driving licences will no longer need to obtain an International Driving Permit (IDP) to drive in several Southeast Asian nations. “Starting 1 June 2025, Indonesian driver’s licences will be valid in […]