Indonesia recorded a surplus of $4.53 billion in March to continue a run of a positive trade balance for the 23rd month in a row, the Central Statistics Agency, or BPS announced on Monday.
The country’s exports grew by 29.42 percent to $26.5 billion compared with the previous month, while imports increased by 32.01 percent to $21.97 billion.
During the first quarter of the year, the overall trade surplus reached $9.33 billion.
Deficit with Russia and Ukraine
BPS Head Margo Yuwono said Indonesia saw a deficit in the bilateral trade with warring countries Russia and Ukraine.
“Indonesia’s trade balance with Russia saw a deficit of $204.6 million on our side from January through March, and we also had a deficit of $13.5 million with Ukraine,” Margo said.
Indonesia’s exports to Russia dropped by 48.7 percent to $399.6 million in the first quarter of the year compared to the same period of last year.
Source: Jakarta Globe
May 21, 2022