(MENAFN) Statistics Indonesia (BPS) revealed on Monday that Indonesia recorded a notable surge in its trade balance surplus for the month of March, reaching 4.47 billion U.S. dollars. This marked a significant increase from the previous month's surplus of 870 million dollars. Remarkably, this milestone signifies Indonesia's 47th consecutive month of maintaining a trade balance surplus, a streak that commenced in May 2020.
The data released by BPS indicated a slight decline in the total export value, which fell by 4.19 percent year on year to 22.43 billion dollars. Conversely, the import value experienced a more pronounced decrease, declining by 12.76 percent year on year to 17.96 billion dollars. These figures underscore the dynamic nature of Indonesia's trade landscape and highlight the ongoing impact of global economic factors on the country's trade performance.
"Primarily, the surplus from the oil and gas sector was 6.51 billion dollars, although this was reduced by the oil and gas sector deficit of 2.04 billion dollars," stated acting chief of BPS Amalia Widyasanti during a news conference.
During the reported month, there was a notable surge in the export of gold and gems products, which skyrocketed by 206.58 percent month on month to reach a total value of 925.8 million dollars. Conversely, the import of cereals experienced a significant increase, rising by 25.97 percent to reach 182.2 million dollars.
Examining the export contributions from various regions, it was observed that West Java province made the most significant contribution to the total export value of the Southeast Asian country during the period from January to March. The export value from West Java amounted to 9.15 billion dollars, accounting for 14.71 percent of the total. Following closely behind was East Java, with exports totaling 6.33 billion dollars, representing 10.18 percent of the total export value.
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