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Indonesia’s trade balance surplus surges to USD4.47 billion in March

JAKARTA (XINHUA) – Indonesia registered a trade balance surplus of USD4.47 billion in March, surging from USD870 million in the previous month, Statistics Indonesia (BPS) reported yesterday.

The figure marked Indonesia’s 47th consecutive month with a trade balance surplus since May 2020.

The total export value fell 4.19 per cent year-on-year to USD22.43 billion, while import value dropped 12.76 per cent year-on-year to USD17.96 billion, showed the BPS data.

“Primarily, the surplus from the oil and gas sector was USD6.51 billion, although this was reduced by the oil and gas sector deficit of USD2.04 billion,” said BPS acting head Amalia Widyasanti, at a press conference.

In the cited month, the export of gold and gems products increased sharply by 206.58 per cent month-on-month to USD925.8 million, while for the import, cereals saw a rise of 25.97 per cent to USD182.2 million.

For the period from January to March, West Java province contributed most to the total export of the Southeast Asian country, with a value recorded at USD9.15 billion or 14.71 per cent, followed by East Java with USD6.33 billion, or 10.18 per cent and East Kalimantan with USD6.29 billion, or 10.11 per cent.

An aerial photo of Jakarta, Indonesia. PHOTO: XINHUA