Indonesia books trade surplus of US$1.57 billion in March 2021

Jakarta (ANTARA) - Indonesia registered a trade surplus of US$1.57 billion in March 2021, with exports valued at US$18.35 billion and imports reaching US$15.76 billion, the Central Statistics Agency (BPS) stated.

“The surplus is far higher than that of March 2020 and March 2019 wherein it was recorded at US$0.7 billion (each),” BPS Chief Suhariyanto noted during an online press conference in Jakarta on Thursday.

In comparison with the corresponding period last year, exports swelled 30.47 percent, and imports jumped 25.79 percent in March 2019, Suhariyanto remarked.

“Exports rose 30.47 percent, fueled by a surge in the exports of agricultural, industrial, and mining products, while imports rose 25.79 percent, driven by an increase in the imports of consumer, auxiliary, and capital goods,” he stated.

The BPS chief affirmed that exports and imports increased in tandem with an improvement in several indicators, including Indonesia’s Manufacturing Purchasing Managers’ Index (PMI), issued by IHS Markit, which increased to 53.2 in March 2021.

Taking into account the global manufacturing PMI, the growth is fairly high, driven by the launch of a vaccination program, an increase in public activity, and a rise in demand for various commodities leading to the price hike.

“It is certainly very favorable for the development of Indonesia’s exports and imports. Looking ahead, of course, we are optimistic of the performance in March being replicated in the ensuing months,” he stated.

Source: Antara News

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