Indonesia's Export, Import, and Trade Balance Values: January-October 2024

According to a report by the Central Statistics Agency (BPS), Indonesia's export value reached US$24.41 billion in October 2024.

This represents a 10.69% increase compared to September 2024 (month-to-month/mtm), and a 10.25% increase compared to October of the previous year (year-on-year/yoy).

BPS stated that the increase in October 2024 exports month-on-month was driven by non-oil and gas exports, which rose 10.35% (mtm) to US$23.07 billion, and oil and gas exports, which increased 16.88% (mtm) to US$1.35 billion.

Import value in October 2024 reached US$21.94 billion, up 16.54% (mtm) and 17.49% (yoy).

Cumulatively, from January to October 2024, Indonesia's export value reached US$217.24 billion, a 1.33% increase compared to the same period last year (cumulative-to-cumulative/ctc).

Import value from January to October 2024 grew by 5.25% (ctc) to US$192.81 billion.

Indonesia's trade balance in October 2024 reached US$2.48 billion, a decrease of 23.39% (mtm) and 28.7% (yoy).

Similarly, cumulatively, in the first ten months of the year, the trade surplus decreased by 21.68% (ctc) to US$24.43 billion.