Indonesia runs trade deficit with Russia, Ukraine

April 21, 2022 | 09:27

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Indonesia's trade balance with Russia and Ukraine was in deficit due to the ongoing war, head of the Statistics Indonesia (BPS) Margo Yuwono has stated.

Indonesia runs trade deficit with Russia, Ukraine

Illustrative image (Source: Voi.ID)

Jakarta – Indonesia's trade balance with Russia and Ukraine was in deficit due to the ongoing war, head of the Statistics Indonesia (BPS) Margo Yuwono has stated.

In January, Indonesia's exports of animal or vegetable fats and oils to Russia were recorded at 102.4 million USD, while the figure was recorded at 102 million USD in February. However, in March, its value only reached 58.3 million USD.

The trade balance between Indonesia and Russia during the January-March period experienced a deficit of 204.6 million USD. This figure decreased significantly when compared to a surplus of 42.2 million USD during the same period last year.

In the meantime, Indonesia's main export commodities with Ukraine are animal or vegetable fats and oils, paperboard, and footwear.

"In March, there were no exports to Ukraine at all. This shows that this conflict is interfering with our exports to Ukraine," Yuwono said, as cited by Indonesia's Antara News Agency.

Indonesia's trade value with Ukraine for the January-March period experienced a deficit of 13.5 million USD. This figure fell significantly when compared to a surplus of 53.6 million USD during the same period of the previous year.

VNA

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