Indonesia logs trade balance surplus of 1.96 bln USD in January

2021-02-26 14:05:43 GMT2021-02-26 22:05:43(Beijing Time) Xinhua English

JAKARTA, Feb. 26 (Xinhua) -- Indonesia's trade balance in January experienced a fairly high surplus of 1.96 billion U.S. dollars, Minister of Trade Muhammad Lutfi said in a statement on Friday.

"We are starting 2021 quite well. The performance of Indonesia's foreign trade balance continues the trend of monthly surplus that has occurred since May 2020," the minister noted.

According to him, the ministry recorded the January 2021 trade surplus with the export value of 15.30 billion U.S. dollars and the import value of 13.34 billion U.S. dollars.

The commodities contributing to the January surplus included animal and vegetable oils, mineral fuels and footwear, he said, adding that Indonesia's biggest trading partner countries contributing to the non-oil and on-gas trade surplus in January were the United States, India, the Philippines, Japan, and Malaysia.

"Indonesia's trade balance surplus in January 2021 is better than that in January 2019 which experienced a deficit of 1.0 billion U.S. dollars and that in January 2020 which suffered a deficit of 0.6 billion U.S. dollars," he said.

Lutfi explained that in January 2021, Indonesia's export performance reached 15.3 billion U.S. dollars, an increase of 12 percent compared to that in the same month of the previous year.

He further said that non-oil and non-gas exports in January 2021 increased by 12.5 percent compared to that in the same period of the previous year.

Meanwhile, Indonesia's import value in January 2021 was recorded at 13.34 billion U.S. dollars or decreased by 7.59 percent compared to that in December 2020.

The weakening performance of Indonesia's imports in January 2021 was mainly driven by a 9 percent decline in non-oil and non-gas imports, he said. Enditem

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