Pandemic-Induced Trade Surplus
Statistics Indonesia (BPS) announced that Indonesia recorded a trade surplus of US$2.44 billion in September 2020.
/https%3A%2F%2Fkompas.id%2Fwp-content%2Fuploads%2F2019%2F11%2FAri-Kuncoro_75152262_1572887656.jpg){kind=logo}
Ari Kuncoro
Statistics Indonesia (BPS) announced that Indonesia recorded a trade surplus of US$2.44 billion in September 2020. Thus, Indonesia\'s trade balance has been in surplus for five consecutive months, which leads Bank Indonesia to predict a potential reversal of the quarterly current account, which has been in deficit for a decade, to a surplus. The trade surplus report also helped maintain the rupiah exchange rate in the range of Rp 14,700 per US dollar.
Similar to the previous four months, the surplus in September 2020 occurred because imports fell more sharply than exports amid the contraction of the economy due to the Covid-19 pandemic. Exports dropped 0.51 percent to $14.01 billion compared to September 2019. Meanwhile, imports fell 18.88 percent to $11.57 billion over the same one-year period.