Indonesia’s export value last year (2021) reached $231.54 billion, increasing 42% year on year. The import, meanwhile, reached $196.20 billion, a 39% increase year on year, creating $35.34 billion trade balance surplus, according to Central Bureau of Statistic BPS.
Each month during the year created an export increase and trade surplus. But, in the last month (December) the trade surplus shrank on-month in December amid weaker exports and higher imports of consumer goods and raw materials.
The country posted a monthly surplus of $1.02 billion, down from $3.51 billion in November and $5.73 billion in October. Indonesia, Southeast Asia’s largest economy, has posted a trade surplus every month since May 2020.
December exports rose 35% from a year earlier to $22.38 billion, led by exports of manufacturing and mining-related products. On month, exports fell 2.04%.
Imports for December rose 48% on year and 10.5% on month to $21.36 billion, partly due to a rise in imports of raw materials, machinery and electrical appliances, the agency said.