JAKARTA (Reuters – Indonesia’s 2016 exports are expected to reach $225 billion to $230 Billion, making it the most significant in Southeast Asia’s largest economies. The country’s trade minister stated this on Thursday.

The country is rich in resources and has enjoyed an increase in exports due to rising prices for its most important commodities, such as steel, palm oil, rubber, and coal.

In the first 11 months, exports reached $209.2 Billion, an almost 43% increase on a year-over-year basis. November’s record monthly shipment was $22.84 Billion.

Minister Muhammad Lutfi stated that if the December numbers remain consistent, exports will surpass $225 billion to $250 billion. 2021 will mark the peak in export history.

In 2011, Indonesia had set a record of $203.5 billion for its exports, at the peak in the country’s commodities-upcycle.

“Our surplus reached $34Billion… Lutfi stated that, if the trend continues, there will be a surplus of $35 billion by 2021.

This forecast represents the country’s biggest trade surplus since 2007.

Due to the significant surplus in the trade in goods, Indonesia may record its first current account surplus https://www.bi.go.id/id/publikasi/ruang-media/news-release/Pages/sp_2333221.aspx in a decade this year, the central bank has said, giving a forecast range of between a 0.3% surplus to a 0.5% deficit, relative to gross domestic product.

This could be a way to protect the rupee currency against a tightening global money supply, analysts believe.