INDONESIA's exports rose to an all-time high in March due to Russia's invasion of Ukraine, which triggered a surge in global commodity prices, increasing the nation's shipments of steel, coal, and palm oil, reports Bloomberg.
Exports climbed 44.36 per cent year-on-year for a total value of US$26.5 billion last month.
Southeast Asia's largest economy recorded a trade surplus of $4.53 billion.
'On the other hand, the war in ukraine also increases our oil and gas imports,' said Indonesia state statistics chief Margo Yuwono.
'The impact on our trade further will depend on how long the Russia-Ukraine conflict will last.'
Indonesia saw its imports jump 30.85 per cent to $21.97 billion in March, another record high.
'As long as the government keeps its current state of mobility measures, we believe imports will continue to increase toward the year-end,' said Mr Yuwono.
'However, the surge in exported commodity prices would cushion a narrowing trade surplus in the foreseeable future,' said Wardana, who is revising his projection for the 2022 current account deficit to 0.5 per cent of gross domestic product from 1.9 per cent.'
SeaNews Turkey
Exports climbed 44.36 per cent year-on-year for a total value of US$26.5 billion last month.
Southeast Asia's largest economy recorded a trade surplus of $4.53 billion.
'On the other hand, the war in ukraine also increases our oil and gas imports,' said Indonesia state statistics chief Margo Yuwono.
'The impact on our trade further will depend on how long the Russia-Ukraine conflict will last.'
Indonesia saw its imports jump 30.85 per cent to $21.97 billion in March, another record high.
'As long as the government keeps its current state of mobility measures, we believe imports will continue to increase toward the year-end,' said Mr Yuwono.
'However, the surge in exported commodity prices would cushion a narrowing trade surplus in the foreseeable future,' said Wardana, who is revising his projection for the 2022 current account deficit to 0.5 per cent of gross domestic product from 1.9 per cent.'
SeaNews Turkey