Trade Surplus Maintained in August 2020 - Bank Sentral Republik Indonesia
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September 29, 2020

No. 22/70/DKom

Indonesia’s trade balance recorded a USD2.33 billion surplus in August 2020 after amassing a USD3.24 billion surplus one month earlier. Cumulatively from January to August 2020, therefore, Indonesia’s trade surplus stood at USD11.05 billion, up significantly from a USD2.06 billion deficit in the same period one year earlier. Bank Indonesia is confident that the trade surplus will contribute to maintain external economic resilience in Indonesia. Moving forward, Bank Indonesia will continue to strengthen policy synergy with the Government and other relevant authorities in order to bolster external resilience, including the trade balance outlook.

The trade surplus observed in August 2020 was influenced by a non-oil and gas trade surplus coupled with a larger oil and gas trade deficit. The non-oil and gas trade surplus stood at USD2.67 billion in August 2020, down slightly from USD3.52 billion in the previous period. The non-oil and gas trade surplus was maintained on non-oil and gas exports, iron and steel, precious metals as well as animal/vegetable fats and oils in particular. Meanwhile, non-oil and gas imports increased in the reporting period, driven by consumer goods and raw materials, as economic activity began to rebound after the Government decided to relax large-scale social restrictions. On the other hand, the oil and gas trade balance continued to experience a deficit, totalling USD0.34 billion, on the back of declining oil and gas exports, led by refined products. 

Head of Communication Department
Onny Widjanarko
Executive Director  
 
Information on Bank Indonesia
Tel. 021-131, email: bicara@bi.go.id


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