The recent increase in Indonesian trade proofs the stability of the country’s economic development and its growing importance as a global economic actor. According to data from the Central Statistics agency, Indonesian trade posted a US$1.4 billion surplus in January, a drastic surge from only $10 million in January 2016. “This is the highest surplus since January 2014,” BPS head Suhariyanto said during a press conference in Jakarta on Thursday.
Yet, not only exports but imports grew greatly as well since January last year. Indonesian exports reached $13.38 billion in January this year, an increase of 27.21 percent compared to the figure recorded in January 2016. Indonesian imports were $11.99 billion, a 14.54 percent increase compared to January 2016.
Trade in non-oil and gas products accounts for most of the Indonesian trade volume. The total export value of non-oil and gas products has been $12.11 billion translates into a 29.24 percent increase from the $9.37 billion recorded in January 2016. Meanwhile, the value of oil and gas exports was $1.27 billion, an increase of 14.77 percent. Non-oil and gas imports were $10.18 billion, a 10.12 percent increase.