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The Central Statistics Agency (BPS) reports that the 2022 trade balance surplus is higher than the previous month’s results (month-to-month/mtm). In the tenth month of this year, Indonesia posted a trade balance surplus of US$5.67 billion, up 13.63% mtm, compared to September 2022 performance, which was US$4.99 billion. Reflecting on BPS data, the October trade balance surplus growth was supported by exports which moved up 0.13 percent mtm. In September 2022, shipping performance contracted by 11.07 percent.
the growth in export values in October 2022 succeeded in reducing the rate of imports in the same period. BPS noted that the monthly contraction in imports decreased from -10.57 percent mtm as of September 2022 to -3.4 percent mtm.When broken down, the oil and gas sector was the main contributor to the improvement in export performance in October.
Oil and gas recorded growth of 4.93 percent mtm to US$1.38 billion.
In the …Read More
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TO THE FULLEST …Read More