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.
Jakarta (VNA) - Indonesia's trade surplus hit a record high in April, surpassing
its peak in last October amid soaring global commodity prices that boosted
exports.
The National Statistics Agency (BPS) announced on May 17 that Indonesia had registered a surplus for the 24th consecutive month in April, which had more than tripled to 7.56 billion USD year on year and increased 66 percent month on month.
Economists forecast that Indonesia will benefit from rising in global commodity prices due to the impacts of the Russia-Ukraine conflict as revenues from the exports of crude palm oil (CPO), coal, and metal ores are higher than the increase in imports.
According to BPS, Indonesia’s exports reached 27.32 billion USD in April, up 47.76 percent year on year. The mining industry had the strongest export growth, almost doubling year on year to 6.41 billion USD. Meanwhile imports rose 21 percent to 19 billion USD.
China remained Indonesia's top export destination, with turnover of 5.49 percent or 21.21 percent of the country’s total exports. It was followed by the US with 2.46 billion USD and Japan with 2.24 billion USD, respectively./.
The National Statistics Agency (BPS) announced on May 17 that Indonesia had registered a surplus for the 24th consecutive month in April, which had more than tripled to 7.56 billion USD year on year and increased 66 percent month on month.
Economists forecast that Indonesia will benefit from rising in global commodity prices due to the impacts of the Russia-Ukraine conflict as revenues from the exports of crude palm oil (CPO), coal, and metal ores are higher than the increase in imports.
According to BPS, Indonesia’s exports reached 27.32 billion USD in April, up 47.76 percent year on year. The mining industry had the strongest export growth, almost doubling year on year to 6.41 billion USD. Meanwhile imports rose 21 percent to 19 billion USD.
China remained Indonesia's top export destination, with turnover of 5.49 percent or 21.21 percent of the country’s total exports. It was followed by the US with 2.46 billion USD and Japan with 2.24 billion USD, respectively./.
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