Friday, 20 May 2022 01:23

April Trade Balance Surplus Highest All Time, Bank Indonesia Says This

Indonesia's trade balance surplus in April 2022 recorded a record high, reaching USD 7.56 billion. The surplus was much higher than the surplus in the previous month which reached USD 4.54 billion. Head of the Communications Department of Bank Indonesia (BI) Erwin Haryono said the positive performance continued Indonesia's trade balance surplus since May 2020.
"BI views that the trade balance surplus has contributed positively in maintaining the external resilience of the Indonesian economy," he said in an official statement quoted by Bisnis, Wednesday (18/5/2022). Going forward, Erwin said BI will continue to strengthen policy synergies with the government and related policy authorities to increase external resilience and support national economic recovery.


Meanwhile, he explained that the April 2022 trade balance surplus stemmed from an increase in the non-oil and gas trade balance surplus amid an increasing oil and gas trade balance deficit. In April 2022, the non-oil and gas trade balance surplus reached USD 9.94 billion, higher than the surplus in the previous month of USD 6.62 billion. "This positive development is supported by the increase in non-oil and gas exports from USD 25.09 billion in March 2022 to USD 25.89 billion in April 2022," he said. The increase in non-oil and gas exports mainly came from improving exports of natural resource-based commodities, such as mineral fuels including coal, metal ore, as well as iron and steel, supported by still high global prices. By destination country, non-oil and gas exports to China, the United States and Japan remained high in line with strong demand.

Source: https://ekonomi.bisnis.com/read/20220518/9/1534256/surplus-neraca-dagang-april-tertinggi-sepanjang-masa-bi-bilang-gini

 

 

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