Indonesia enjoys largest trade surplus in history in April

Indonesia's trade surplus hit a record high in April, surpassing its peak in last October amid soaring global commodity prices that boosted exports.

Thursday, May 19, 2022 10:27

Jakarta (VNA) - Indonesia's trade surplus hit a record high in April, surpassingits peak in last October amid soaring global commodity prices that boostedexports.

The NationalStatistics Agency (BPS) announced on May 17 that Indonesia had registered asurplus for the 24th consecutive month in April, which had more than tripled to7.56 billion USD year on year and increased 66 percent month on month.

Economists forecast that Indonesia will benefit from rising in global commodityprices due to the impacts of the Russia-Ukraine conflict as revenues from theexports of crude palm oil (CPO), coal, and metal ores are higher than theincrease in imports.

According to BPS, Indonesia’s exports reached 27.32 billion USD in April, up47.76 percent year on year. The mining industry had thestrongest export growth, almost doubling year on year to 6.41 billion USD. Meanwhile imports rose 21 percent to 19billion USD.

Chinaremained Indonesia's top export destination, with turnover of 5.49 percent or 21.21percent of the country’s total exports. It was followed by the US with 2.46billion USD and Japan with 2.24 billion USD, respectively./.

VNA

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