Trade Balance records Surplus, Airlangga: This is Positive for Economy
LiputanIslam.com— Statistics Indonesia (BPS) recorded that Indonesia’s trade balance in July swung to surplus US$ 3.26 million. Including July, Indonesia managed to record a trade surplus for three consecutive months.
Cumulatively, Indonesia’s trade balance surplus during the first semester of 2020 reached US$ 8.74 billion. Coordinating Minister for Economic Affairs Airlangga Hartarto responded to this well.
Airlangga said that the trade balance surplus would have a positive impact on the economy amid the pandemic. Moreover, the surplus that occurred in July was the highest since July 2011.
“This is a very positive thing in the midst of the current pandemic situation. Another thing that is more encouraging is that the trade surplus in July was the highest since 9 years ago, or to be precise, August 2011,” he said on Friday (21/8).
Exports in July reached US$ 13.72 billion or higher than imports which reached US$ 10.46 million. This trade surplus was affected by improved export performance and reduced demand for imports of consumer goods.
“It means that Indonesia’s main export commodities are still highly competitive amid the decline in global demand as a result of the COVID-19 pandemic. It is a very positive thing considering that Indonesia is currently in need of leveraging sectors so that economic growth in the third quarter of 2020 can be better than the second quarter of 2020,” he said. (sh/medcom/kompas)