Minister of Trade Zulkifli Hasan (Minister of Trade Zulhas) noted that Indonesia's trade performance in June 2022 managed to achieve a surplus of USD 5.09 billion. This surplus continues the trend of consecutive surpluses achieved since May 2020 or to be precise for the last 26 months. The surplus in June 2022 consisted of a non-oil and gas surplus of USD 7.23 billion and an oil and gas deficit of USD 2.14 billion. "The trade surplus in June 2022 supported the achievement of the trade balance in the first semester of 2022. Cumulatively, Indonesia's trade balance in the first semester (January–June) 2022 recorded a surplus of USD 24.89 billion," explained Trade Minister Zulhas in an official statement, Wednesday (20/7/2022).
He said the surplus was mainly supported by a surplus in the non-oil and gas sector of USD 36.59 billion and a deficit in the oil and gas sector of USD 11.70 billion. The surplus in the first semester of 2022 became the largest surplus per semester in history, surpassing the surplus in the first semester of 2007 which amounted to USD 20.15 billion. "Various global challenges that are increasingly massive have not dampened the positive performance of Indonesia's trade balance. Historically, the first semester of 2022 trade surplus was the largest semi-annual trade surplus of all time. We should be grateful for this condition,” said Trade Minister Zulhas. Furthermore, he explained, Indonesia's non-oil and gas trade surplus for the June 2022 period was driven by a trade surplus with several trading partner countries.
India became a trading partner country that contributed the largest surplus with a value of USD 1.64 billion. Then, the trade surplus with the United States (US) amounted to USD 1.47 billion, followed by the Philippines with a surplus of USD 1.16 billion. "When referring to the performance of the first semester of 2022, the largest surplus came from trade with the US of USD 9.19 billion, followed by India of USD 6.24 billion, and the Philippines of USD 5.15 billion," he concluded.
