VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Minister of Trade Agus Suparmanto said Indonesia's trade balance surplus during the January-September 2020 period gave a positive signal to trade performance and national economic recovery.

Minister of Trade Agus stated that the cumulative trade balance for the January-September 2020 period was recorded as having a surplus of US $13.5 billion.

"The impact is huge because this surplus carries a positive signal. We will maintain the export trend even amid a pandemic," said Trade Minister Agus in a virtual discussion held by BNPB, Monday.

The Minister of Trade explained that the cumulative trade performance for January-September 2020 exceeded the 2017 trade balance surplus of 11.84 billion US dollars and was the highest surplus achievement since 2012.

Several commodities, especially non-oil and gas exports experienced an increase in September 2020. They were iron and steel, vegetable fats and oils, vehicles and spare parts, electrical machinery and equipment, and plastics and plastic goods.

The five products contributed an export share of 34.02 percent of Indonesia's total non-oil and gas exports in September 2020.

There is an increase in steel exports due to increased demand for products from China and Malaysia, along with the recovery of industrial activity in the country.

"Meanwhile, the increase in export value was also influenced by the increase in CPO prices in the international market and the increase in demand for CPO from China and India," said Agus.

He added that the country is seeing economic recovery, one of which was based on the trade balance, provided motivation for domestic MSME players to increase their exports. (Antaranews)