Indonesia's Trade Balance Surplus 3.31 Billion US Dollars In December 2023

JAKARTA - The Central Statistics Agency (BPS) noted that Indonesia's trade balance in December 2023 experienced a surplus of 3.31 billion US dollars, an increase of 0.90 billion US dollars on a monthly basis. This means that Indonesia's trade balance has returned to a surplus for 44 consecutive months since May 2020.

"Thus, Indonesia's trade balance has recorded a surplus for 44 consecutive months since May 2020," said BPS Deputy for Statistics and Services, Pudji Ismatini in the release of the BPS Official Statistical News (BRS), Monday, January 15, 2024.

Pudji said the surplus in December 2023 increased when compared to the previous month, but was lower when compared to the same month last year.

Pudji added that the trade balance surplus in December 2023 was obtained from non-oil and gas trade transactions of US$5.20 billion with commodities contributing to the utam surplus being mineral fuel, animal fat and oil or vegetable, then iron and steel.

"The non-oil and gas trade balance surplus in December 2023 is higher than last month, but lower than December 2022," he said.

Meanwhile, at the same time the oil and gas commodity trade balance was recorded at a deficit of 1.89 billion US dollars with commodities contributing to the deficit being crude oil and oil.

"The deficit in the oil and gas trade balance in December 2023 is lower than the previous month, but higher than the same month last year," he explained.

Pudji revealed that cumulatively until December 2023 amounted to 36.93 billion US dollars, or a decrease of 17.52 billion US dollars from the previous year.

"The trade balance surplus in 2023 decreased by around 33.46 percent compared to the same period the previous year," said Pudji.

Pudji said the decline in the trade balance surplus throughout 2023 was driven by a decrease in export and import performance.

Meanwhile, the total export value throughout January 2023 to December 2023 was 258.82 billion US dollars, down 11.33 percent. Meanwhile, the import value during January 2023 to December 2023 was 221.89 billion US dollars, down 6.55 percent.