Indonesia’s trade surplus rises for 44 consecutive months
Statistics Indonesia (BPS) has reported that the country’s trade balance in December last year experienced a surplus of 3.31 billion USD, marking the 44th month in a row of surplus since May 2020.
Tanjung Priok Port in Jakarta, Indonesia. (Photo: Reuters)
Jakarta (VNA) - Statistics Indonesia (BPS) has reported that the country’s trade balance in December last year experienced a surplus of 3.31 billion USD, marking the 44th month in a row of surplus since May 2020.
BPS Deputy for Distribution and Services Statistics Pudji Ismartini said the long-term continuous trade surplus most clearly demonstrates the growth rate of the Indonesian economy in recent times.
Indonesia enjoyed trade surplus with India, the US and the Philippines, however, the total surplus was lower when compared to the same month of 2022, which hit 3.92 billion USD.
Pudji said that the trade balance surplus in December 2023 was obtained from non-oil and gas trade transactions of 5.20 billion USD with commodities contributing to the utam surplus being mineral fuel, animal fat and oil or vegetable, then iron and steel.
Meanwhile, the oil and gas commodity trade balance was recorded at a deficit of 1.89 billion USD with commodities contributing to the deficit being crude oil and oil, she added.
The deficit in the oil and gas trade balance in December 2023 is lower than the previous month, but higher than the same month of 2022, she explained.
Pudji revealed that cumulatively until December 2023 amounted to 36.93 billion USD , down 33.46 % or 17.52 billion USD compared to the figure recorded in the previous year.
Indonesia has continuously posted the trade surplus over the last four years, with the highest number recorded in 2022.
♚ According to Pudji, the Southeast Asian country’s total export value in December 2023 was 22.41 billion USD, up 1.89% compared to November 2022. It spent 19.11 billion USD on imports last month./.
The Indonesian government agreed to assign the State Logistics Agency (Bulog) to import 2 million tonnes of rice in 2024 in order to ensure the government rice reserves (CBP) and cope with insufficient food supply in the country, said President of Bulog Bayu Krisnamurthi on January 11
Indonesia’s Abdul Rachman Saleh airport in Malang district of East Java province was temporarily closed from 10am on January 12 (local time) due to Mount Semeru's volcanic ash detected in the vicinity, the Ministry of Transport announced.
The Indonesian government is optimistic that the country will achieve its target of 5.1–5.7% economic growth in 2024 amid the projected global economic slowdown.
About 6,500 people on the island of Flores, Indonesia, have had to evacuate after Mount Lewotobi Laki-laki volcano spewed thick clouds of brownish ash for the past few days, local media reported, citing authorities as saying on January 15.
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Tanjung Priok Port in Jakarta, Indonesia. (Photo: Reuters) 
