Indonesia's trade surplus hits record high
Indonesia posted a trade surplus of 4.74 billion USD in August 2021, breaking the record of 4.64 billion USD in December 2006, the Central Statistics Office (BPS) has said.
Illustrative image (Photo: Reuters)Speaking at an online press conference on September 15, BPS head Margo Yuwono said Indonesia's total export turnover reached 21.42 billion USD, while its imports only hit 16.68 billion USD. According to BPS, the export value alone has exceeded far from the record of 18.65 billion USD in August 2011.
Margo said the export turnover soared thanks to the sharp fluctuations in prices of some commodities in the international market, including the main export markets of Indonesia, as well as increased import demand.
According to BPS, Indonesia's exports increased in both volume and price. The highest increase in exports included palm oil and coal, while prices of both strategic commodities also increased sharply in the international market.
Indonesia's total import turnover also increased by 10.35 percent from 15.11 billion USD in July. Margo attributed this to the government's easing of the restriction on community activities (PPKM)./.
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