No. 23/331/DKom

According to data published by BPS-Statistics Indonesia, Indonesia maintained a large USD3.51 billion trade surplus in November 2021 despite retreating from USD5.74 billion one month earlier.  Therefore, Indonesia has maintained a positive trade balance since May 2020.  Overall, Indonesia's trade balance for the period from January-November 2021 recorded a USD34.32 billion surplus, up considerably from USD19.52 billion in the same period of 2020.  Bank Indonesia is confident the ongoing trade surplus is contributing to solid external economic resilience in Indonesia.  Moving forward, Bank Indonesia will continue to strengthen policy synergy with the Government and other relevant authorities to bolster economic recovery momentum.

The trade surplus in November 2021 was primarily influenced by a persistently high non-oil and gas trade surplus despite a larger oil and gas trade deficit.  In the reporting period, the non-oil and gas trade balance recorded a USD5.21 billion surplus, down from USD6.61 billion in October 2021.  Non-oil and gas exports increased slightly to USD21.51 billion in November 2021 from USD21.00 billion one month earlier, dominated by natural resources, such as mineral fuels, including coal, as well as manufacturing products, namely rubber and articles thereof as well as precious metals and jewellery/gems.  Based on destination country, non-oil and gas exports to China, the United States and Japan continued to soar on recovering global demand.  Meanwhile, non-oil and gas imports accelerated across all components in response to ongoing domestic economic improvements.  On the other hand, the oil and gas trade deficit increased from USD0.87 billion in October 2021 to USD1.69 billion in November 2021, as oil and gas imports outpaced exports.

Jakarta, 15^th December 2021
Head of Communication Department

Erwin Haryono