Jakarta (Indonesia Window) – Indonesia's trade balance booked a surplus of 4.53 billion U.S. dollars in March 2022 with an export value of 26.50 billion dollars and imports of 21.97 billion dollars, according to the Statistics Indonesia (BPS).

"The trade balance has experienced a surplus for 23 consecutive months," the BPS’ Head Margo Yuwono said at a press conference here on Monday (Apr. 18).

Margo pointed out that non-oil and non-gas commodities that contributed to the largest surplus were mineral fuels, animal fats and vegetable oils, as well as iron and steel. The three countries contributing the largest to the surplus were the United States, India, and the Philippines.

With the U.S., Indonesia's trade surplus was 2 billion dollars, with commodities contributing the largest to surplus being animal fats and oils, vegetable oils and footwear.

Indonesia's trade with India also underwent a surplus of 1.2 billion dollars, with the largest contributing commodities to the surplus being mineral fuels, animal fats and vegetable oils.

Meanwhile, Indonesia's trade surplus with the Philippines was recorded at 916.9 million dollars, with the main commodities contributing to the surplus being mineral fuels, as well as vehicles and their spare parts.

On the other hand, Indonesia suffered a deficit in trade with Thailand, Australia and Argentina.

With Thailand, Indonesia experienced a deficit of 565.6 million dollars, with the main commodities contributing to the deficit being sugar and confectionery, machinery and mechanical equipment and spare parts.

Meanwhile, Indonesia's trade transactions with Australia experienced a deficit of 515 million dollars, with the main commodities contributing to the deficit being mineral fuels and cereals.

With Argentina, the Southeast Asian country experienced a deficit of 261.6 million dollars in the trade of cereal commodities.

Thus, Indonesia's trade balance in the January-March 2022 period still experienced a surplus of 9.33 billion dollars. This figure is higher than the surplus in the same period in 2021 of 5.52 billion dollars and in 2020 of 2.54 billion dollars.

Reporting by Indonesia Window