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According to the latest data published by BPS-Statistics Indonesia, Indonesia amassed a USD3.89 billion trade surplus in December 2022, thereby maintaining a positive trade balance since May 2020, despite retreating from USD5.13 billion the month earlier. For the period from January-December 2022, therefore, the overall trade surplus stood at USD54.46 billion, up significantly from USD35.42 billion in the same period of 2021. 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 external resilience and strengthen national economic recovery momentum.
The trade surplus recorded in December 2022 stemmed from a maintained non-oil and gas trade surplus, despite a slightly wider oil and gas trade deficit. In the reporting period, the non-oil and gas trade surplus was recorded at USD5.61 billion, supported by persistently solid non-oil and gas exports totalling USD22.35 billion. Non-oil and gas exports were primarily underpinned by stronger exports of natural resources, such as nickel, metalliferous ores and tin, in line with persistently high international commodity prices. In addition, manufacturing exports also increased, including electrical machinery and equipment as well as pulp. Based on destination country, non-oil and gas exports to China, the United States and India remained solid as the main contributors to total Indonesian exports. On the other hand, the oil and gas trade deficit widened from USD1.69 billion in November 2022 to USD1.73 billion in December 2022.
Jakarta, 16th January 2023
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