Indonesia's Trade Balance Remains in Surplus for 42 Consecutive Months Until October 2023

Trade

Premium

Cindy Mutia Annur 17/11/2023 15:50 WIB

URL has been copied

Memuat...

Indonesia recorded a US$3.48 billion trade surplus in October 2023. This surplus has continued for 42 consecutive months.

Indonesia's Trade Balance Surplus/Deficit by Month (January 2020-October 2023)

A Small Font
A Medium Font
A Bigger Font

You are accessing content Single Data Premium.
To continue, please subscribe or buy individually.

Professional

Enjoy premium access with a more affordable price.

Start from

~~Rp300.000~~ 150.000/month

Access more premium content and exclusive features for customers.

Start from

50.000/month

Hanya Rp833 per artikel

More details »

Buy Retail

Read the article immediately “Indonesia's Trade Balance Remains in Surplus for 42 Consecutive Months Until October 2023”.

Rp10.000

We accept the following payments:

Some payment methods are still in the process of being activated.

Indonesia's Trade Balance Surplus/Deficit by Month (January 2020-October 2023)

Download

Source

A Small Font
A Medium Font
A Bigger Font

According to a report by Indonesia's Central Bureau of Statistics (BPS), Indonesia recorded a trade surplus of US$3.48 billion in October 2023.

"Indonesia's trade balance has recorded a surplus for 42 consecutive months since May 2020," said Pudji Ismartini, Deputy for Distribution and Service Statistics at BPS, as reported by Antara news agency on Wednesday (November 15, 2023).

Indonesia's October 2023 trade surplus increased by US$70 million compared to September 2023 (month-to-month/mtm), but decreased by US$2.12 billion compared to October of the previous year (year-on-year/yoy).

The October 2023 achievement was supported by a non-oil and gas trade surplus of US$5.31 billion, with the main contributing commodities being mineral fuels, animal and vegetable fats and oils, and iron and steel.

However, this non-oil and gas surplus was lower than that achieved in September 2023 and October of the previous year.

Meanwhile, the oil and gas trade sector recorded a deficit of US$1.84 billion. The main contributors to this deficit were crude oil and oil products.

Despite this, the October 2023 oil and gas deficit was lower than in September 2023 and October of the previous year.

Based on trading partners, Indonesia's largest trade surplus in October 2023 came from India with a value of US$1.5 billion, followed by the United States at US$1.1 billion, and the Philippines at US$900 million.

"The largest surplus was experienced with India, driven by mineral fuels, animal and vegetable fats and oils, and metal ores, slag, and ash," said Pudji.

Meanwhile, the largest trade deficits originated from Australia (US$400 million), Thailand (US$300 million), and Brazil (US$200 million).

Indonesia's trade deficit with Australia was driven by mineral fuels, metal ores, slag and ash, as well as sugar and confectionery.

Cumulatively, from January to October 2023, Indonesia's total trade surplus reached US$31.22 billion, lower than the January-October period of the previous year, which reached US$45.44 billion.

Editor : Adi Ahdiat

"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."