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Indonesia's Trade Balance Posts US$3.12 Billion Surplus in August 2023

Cindy Mutia Annur 19/09/2023 16:33 WIB

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Indonesia's Central Bureau of Statistics (BPS) reported a trade surplus of US$3.12 billion in August 2023.

Indonesia's Trade Balance Surplus/Deficit (January 2020 – August 2023)

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Indonesia's Trade Balance Posts US$3.12 Billion Surplus in August 2023

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Indonesia's Trade Balance Surplus/Deficit (January 2020 – August 2023)

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The Central Statistics Agency (BPS) reported that Indonesia's trade balance recorded a surplus of US$3.12 billion in August 2023. While still a surplus, this figure is significantly lower than the US$5.71 billion surplus recorded in August 2022.

However, on a monthly basis, Indonesia's trade balance in August 2023 was higher than in July 2023, which stood at US$1.29 billion.

"Indonesia's trade balance has recorded a surplus for 40 consecutive months since May 2020," said the Acting Head of BPS, Amalia Adininggar Widyasanti, in an online press conference on Friday (September 15, 2023).

The surplus in Indonesia's trade balance in August 2023 was supported by non-oil and gas commodities, which recorded a surplus of US$4.46 billion, while oil and gas commodities contracted by US$1.34 billion.

The main contributors to Indonesia's trade balance surplus last month were animal and vegetable fats and oils worth US$2.92 billion, followed by mineral fuels at US$2.88 billion, and metal slag and ash at US$1.14 billion.

By country, India was the largest contributor to the non-oil and gas trade balance surplus last month, reaching US$1.42 billion. This was followed by the United States and the Philippines, with values of US$1.26 billion and US$834.2 million, respectively.

Indonesia's trade balance surplus in August 2023 was also driven by export values exceeding import values.

Indonesia's export value in August 2023 reached US$22 billion, up 5.47% compared to July 2023 (month-on-month/mom), but down 21.21% compared to June of the previous year (year-on-year/yoy).

Meanwhile, Indonesia's import value in August 2023 reached US$18.87 billion. This figure decreased by 3.53% month-on-month (mom) and 14.77% year-on-year (yoy).

Cumulatively, the trade balance surplus for the January-August 2023 period reached US$24.34 billion. This achievement is down 30.23% compared to January-August 2022, which amounted to US$34.89 billion.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia's Trade Balance Posts US$3.12 Billion Surplus in August 2023

Indonesia's Trade Balance Posts US$3.12 Billion Surplus in August 2023

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Indonesia's Trade Balance Posts US$3.12 Billion Surplus in August 2023

Indonesia's Trade Balance Posts US$3.12 Billion Surplus in August 2023

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