According to the latest data published by BPS-Statistics Indonesia, Indonesia recorded a USD2.90 billion trade surplus in May 2022, reducing from USD7.56 billion one month earlier.  Indonesia has, therefore, maintained a positive trade balance since May 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 external resilience and strengthen national economic recovery momentum.​

The trade surplus recorded in May 2022 stemmed from a non-oil and gas trade surplus and a narrower oil and gas trade deficit.  The non-oil and gas trade surplus stood at USD4.75 billion in the reporting period, down from USD9.95 billion in April 2022.  Such developments were explained by persistently solid non-oil and gas exports recorded at USD20.01 billion in May 2022 despite retreating from USD25.89 billion the month earlier, buoyed by exports of natural resources, such as nickel and copper on the back of high international commodity prices.  Based on destination country, non-oil and gas exports to China, the United States and Japan remained strong.  Meanwhile, non-oil and gas imports were also solid across all components in response to ongoing domestic economic improvements.  On the other hand, the oil and gas trade deficit narrowed from USD2.38 billion in April 2022 to USD1.86 billion in May 2022 given an increase in oil and gas exports coupled with lower oil and gas imports.