Indonesia Books $3.61 Billion Trade Surplus in October 2020

    Eko Nordiansyah - 16 November 2020 14:09 WIB
    Indonesia Books $3.61 Billion Trade Surplus in October 2020
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    Jakarta: Indonesia's trade balance maintained a USD3.61 billion surplus in October 2020 after amassing USD2.39 billion one month earlier.

    The trade surplus recorded in September 2020 was primarily influenced by a non-oil and gas trade surplus, which stood at USD4.06 billion in the reporting period, up from USD2.89 billion one month earlier. 

    The increase stemmed from a surge of non-oil and gas exports, particularly iron and steel, animal/vegetable fats and oil, minerals, as well as motor vehicles and components. 

    On the other hand, the oil and gas trade balance experienced a USD0.45 billion deficit on rising imports, refined products in particular, that exceeded the bump in oil and gas exports. 

    "It was a significant improvement. It was also influnced by decreasing imports. That is why we recorded a sharp increase," said the Central Statistics Agency (BPS) chairman Suhariyanto in a video conference here on Monday. 

    Cumulatively, the country's trade balance reocrded a USD17.07 billion surplus in the January-October 2020 period, improving from USD2.12 billion deficit in the same period last year.


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