March Trade Balance Reaches 4.47 Billion US Dollars, BPS: Consistent Surplus for 47 Consecutive Months

JAKARTA - The Central Statistics Agency (BPS) noted that Indonesia's goods trade balance in March 2024 experienced a surplus of 4.47 billion US dollars.

This gain extends the trend of trade balance surplus for 47 consecutive months.

Acting Head of BPS Amalia Adininggar Widyasanti said that the trade balance surplus in March 2024 was recorded to have increased by 2.65 billion US dollars from February 2024.

"In March 2024, the goods trade balance recorded a surplus of 4.47 billion US dollars. "An increase of 2.65 billion US dollars on a monthly basis," he said at a press conference in Jakarta, Monday, April 22.

Furthermore, Amalia also said that the surplus trend in March 2024 also extended the positive achievements since May 2020.

"Thus, Indonesia's trade sector has recorded a surplus for 47 consecutive months since May 2020," she explained.

Amalia said the trade balance surplus in March 2024 was supported by a surplus in non-oil and gas commodities of 6.51 billion US dollars.

She said that several commodities contributing to the main surplus came from mineral fuels (HS 27), vegetable animal fats and oils (HS 15), and HS 72 iron and steel.

"I would say that the non-oil and gas trade balance surplus in March 2024 is bigger if we compare it to last month, and also compared to March last year," she explained.

Apart from that, Amalia said that Indonesia's oil and gas trade balance had a deficit of 2.04 billion.

She said that the deficit was contributed by crude oil production, and there were three countries that contributed to Indonesia's surplus.

"According to trading partner countries, in March Indonesia experienced a surplus and the three largest were USD 1.50 billion, India and the Philippines," she said.