India, China and the United States Among the Largest Contributors to Indonesia's Trade Surplus

JAKARTADAILY.ID – Indonesian Minister of Trade, Zulkifli Hasan, stated that India, China, and the United States are countries that have contributed the most to Indonesia's trade surplus in October 2022.

These three countries helped Indonesia maintain its positive export performance and recorded a trade balance surplus amidst the global economic slowdown and the threat of a global recession.

This can be seen from the October 2022 trade balance which was a surplus of $5.67 billion. The October 2022 surplus is also the achievement of the 30th consecutive monthly surplus since May 2020.

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"The October 2022 trade surplus was contributed by a $7.66 billion non-oil and gas trade surplus and a $1.99 billion oil and gas trade deficit. This surplus is the achievement of the 30th consecutive monthly surplus since May 2020," said Trade Minister Zulkifli Hasan, Thursday, November 17, 2022.

Zulkifli continued, India was the largest contributor to the surplus with a surplus value of $1.61 billion, followed by China with a surplus of $1.20 billion, and the US with a surplus value of $1.15 billion.

Zulkifli said, cumulatively, the January-October 2022 trade balance also recorded a surplus of $45.52 billion. The January-October 2022 trade surplus was supported by a non-oil and gas surplus of $66.41 billion and an oil and gas deficit of $20.89 billion.

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Zulkifli Hasan reveal that the January-October 2022 trade surplus had exceeded the trade performance of the last two years.

"The January-October 2022 trade surplus has exceeded the achievement in 2021 of $35.42 billion and doubled the achievement in 2020 of $21.62 billion. This condition is encouraging for Indonesia in the midst of an economic slowdown and the threat of a global economic recession," he said.

"We hope that Indonesia's trade surplus this year can make a positive contribution in maintaining external resilience in the economic sector and increasing Indonesia's economic growth," added Zulkifli Hasan.

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