JAKARTA: Indonesia’s trade surplus hit a record high of US$54.46 billion last year amid a global increase in commodity prices and a disruption to the global supply chains as a result of the Russia-Ukraine war.
Among its trading partners, Indonesia benefitted the most from its trade with the US, and saw the biggest bilateral deficit with Australia.The US accounted for the largest portion of Indonesia’s overall trade surplus last year. Excluding oil and gas products, the US imported US$18.89 billion more from Indonesia than it exported to the Southeast Asian country
Excluding oil and gas products, Indonesia experienced its largest trade deficit of US$6 billion with Australia. This is due to its import of coal and cereal amounting to US$1.93 billion and US$1.72 billion respectively.According to BPS data, the country’s exports have exceeded its imports for 32 consecutive months.TRADE SURPLUS “NOT SUSTAINABLE”: ECONOMIST
He forecasted that 2023 will see a smaller trade surplus or “even a deficit” as imports into the country have increased due to the relaxation of COVID-19 movement restrictions in Indonesia.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's Tencent said it fired more than 100 employees over corruption in 2022The disclosure comes after founder Pony Ma said in a townhall that mismanagement was draining the company’s vitality. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
China's Tencent said it fired more than 100 employees over corruption in 2022HONG KONG - Tencent Holdings, Asia’s biggest internet company, on Monday said it fired more than 100 employees for violating law and company policies in 2022, citing reasons including suspected bribery and embezzlement. In a statement on its social network WeChat, the Shenzhen-based company said incidents spanned more than 70 cases across business lines as varied as video games, livestreaming...
Source: asiaonecom - 🏆 10. / 59 Read more »
Stuff To Watch This Week (Jan 16-22, 2022)Are you ready to welcome the Year of the Rabbit this weekend?
Source: TODAYonline - 🏆 1. / 99 Read more »
China's 2022 property investment falls for first time since 1999BEIJING : China's property investment fell 10.0 per cent year-on-year in 2022, the first decline since records began in 1999, compared with a decline of 9.8 per cent in the first 11 months of the year, official data showed on Tuesday.Property sales by floor area dropped 24.3 per cent in 2022 from the same
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China's economy slows sharply in Q4, 2022 growth one of the worst on recordBEIJING: China's economy slowed sharply in the fourth quarter due to stringent COVID-19 curbs, dragging down 2022 growth to one of its worst in nearly half a century and raising pressure on policymakers to unveil more stimulus this year. Gross domestic product (GDP) grew 2.9 per cent year-on-year in t the expectation was way too low.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China coal output in Dec slips on COVID; rises to record in 2022SINGAPORE : China's daily coal output in December fell from November's record as the country's rapidly expanding COVID-19 outbreak has sickened miners and slowed demand from industrial users.China produced 402.69 million tonnes of coal last month, data from the National Bureau of Statistics (NBS) showed o
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »