Jakarta. Indonesia recorded a trade surplus of $4.42 billion in November, marking the 55th consecutive month of a positive trade balance since May 2020, according to data released by the Central Statistics Agency (BPS) on Monday.

The November surplus was $2 billion higher year-on-year and $1.94 billion more than the trade surplus in October. Monthly export figures grew by 9.14 percent year-on-year to $24 billion, while imports remained relatively stable at $19.59 billion.

“The data indicates that Indonesia's trade balance has maintained a surplus for 55 straight months since May 2020,” said BPS Acting Head Amalia Adininggar Widyasanti during a press conference in Jakarta.

Despite the overall surplus, Indonesia continues to face a deficit in its oil and gas trade, which reached $1.25 billion in November, she added.

The largest surpluses in November came from trade with the United States ($1.58 billion), India ($1.1 billion), and the Philippines ($770 million). Conversely, the biggest deficits were recorded with Brazil ($340 million), Australia ($320 million), and China ($280 million).

For the January-November period, Indonesia’s trade surplus totaled $28.86 billion, a $4.74 billion decline compared to the same period last year. The largest surpluses during this 11-month period were with the United States ($15.13 billion), India ($14.3 billion), and the Philippines ($8.2 billion). Meanwhile, the biggest deficits came from China ($9.9 billion), Australia ($4.2 billion), and Thailand ($3.6 billion).