Indonesia posted a trade surplus of US$1.96 billion in January of 2021, shifting from a US$0.64 billion gap in the same month of the previous year and above market consensus of a US$1.68 billion. This was the ninth straight month of surplus in trade balance, as exports surged while imports fell, amid the coronavirus pandemic. Exports jumped 12.24% over a year earlier to US$15.30 billion, mainly due to higher sales of non-oil exports (12.49%), while those of oil and gas products rose by 8.30%. Imports fell 6.49% over a year earlier to US$13.34 billion, as purchases of oil and gas plunged (-21.90%) and those of non-oil and gas dropped by 4%.
