Record 40 Months In A Row! Trade Balance August Surplus 3.12 Billion US Dollars

Illustration (Photo: Doc. Antara)

JAKARTA The Central Statistics Agency (BPS) reported that Indonesia's trade balance in August 2023 was in a surplus position of 3.12 billion US dollars.

Plt. Head of BPS Amalia Adininggar Widyasanti said that the positive results were formed because of the large number of exports with 20.86 billion US dollars compared to imports of 18.88 billion US dollars.

"Indonesia's trade balance has recorded a surplus for 40 consecutive months since May 2020," he said at a press conference today in Jakarta, Friday, September 15.

According to Amalia, the August 2023 surplus is much higher than the July 2023 surplus book which amounted to 1.31 billion US dollars.

"This surplus is supported by a surplus of non-oil and gas commodities which is recorded at 4.47 billion dollars with animal/vegetable fats and oils (HS 15), mineral raw materials (HS 27), iron and steel (HS 72)," he said.

Amalia explained, when compared to an annual basis or year on year (yoy), the surplus value decreased minus 2.65 percent yoy from August 2022 which amounted to 5.78 billion US dollars.

"Cumulatively, or from January to August 2023, the value of Indonesia's trade surplus is USD 24.34 billion. This amount is smaller than January-August 2022, which at that time was USD 34.89 billion," he said.