Fajarasia.co – Indonesia’s trade balance deficit with China during the first quarter of 2022 decreased by 47.99 percent compared to the first quarter of 2021, according to data from the Indonesian Embassy in Beijing, Friday(20/5/2022).
In the January-March 2022 period, Indonesia experienced a trade deficit with China of 190.79 million US dollars (Rp 2.9 trillion) or a decrease of 47.99 percent compared to the January-March 2021 period of 366.81 million US dollars (Rp 5, 3 trillion).
The value of Indonesia’s imports from China during that period reached 16.47 billion US dollars, up 30 percent compared to the same period the previous year which reached 12.67 billion US dollars.
Meanwhile, the value of Indonesia’s exports to China during this period reached 16.28 billion US dollars or grew
amounted to 32.32 percent compared to the total value of exports in the same period the previous year which reached 12.31 billion US dollars.
Some of Indonesia’s export commodities to China experienced a significant increase in the first three months of this year, including iron and steel which grew 72.35 percent, metal ores (109.29 percent), various chemical products (65.17 percent), materials organic chemistry (107.37 percent), tin and its derivatives (283.61 percent).
There are also aluminum and its derivatives (69.66 percent), ceramics (71.97 percent), processed poultry feathers, artificial flowers, articles made from human hair (165.95 percent), and vegetable textile fibers (70.09 percent).
The total trade value between Indonesia and China in the first quarter of 2022 reached 32.76 billion US dollars or grew by
31.14 percent compared to quarter I/2021 which was only recorded at US$24.98 billion.
China’s investment in Indonesia during this period was recorded at US$1.4 billion, up 40 percent compared to the same period the previous year.
China is the third largest foreign investor in Indonesia after Singapore and Hong Kong.***
