Jakarta Indonesia’s trade balance posted a surplus of US$1.96 billion in January 2021, with exports valued at US$15.30 billion and import activities reaching US$13.34 billion, the Central Statistics Agency stated.
“This position is much better as compared to the trade balance recorded in January 2020 when a trade deficit of US$640 million was recorded or as compared to January 2019 when a deficit of US$980 million was posted,” the agency’s head, Suhariyanto, stated during a virtual press conference held from Jakarta, Monday.
Hence, Suhariyanto concluded that the trade performance in January 2021 showed positive progress since the number of export activities went up 12.24 percent as compared to the corresponding period in the previous year.
At the start of this year, exports in the agriculture sector increased by 13.91 percent and exports in the industry sector rose by 11.72 percent, whilst mining exports went up 16.92 percent.
“This is much better as compared to last year, and it brings about hope for exports to keep growing in the coming months and that economic recovery can continue in accordance with expectations,” he pointed out.
However, the agency chief called on taking into account the decline in import value in January 2021 of 6.49 percent as compared to January 2019 for consumer, auxiliary, and capital goods.
“This indicates that the movement of import activities has not met the expectations,” Suhariyanto affirmed.
In terms of the commodities, the largest contributors to the January 2021 export surplus in the non-oil and gas sector comprised vegetable fats and oils, mineral fuels, and footwear.
Meanwhile, based on partner countries, Indonesia logged a trade surplus with several countries, including US$1.095 billion with the United States; US$563.2 million with India; and US$504.3 million with the Philippines.
Indonesia continued to record a trade deficit with several countries during the same period, including a US$1.09-billion deficit with China, US$243.6 million with Australia; and US$192.3 million with South Korea.
Source: Antara News