BPS Records November Trade Balance Surplus Of 2.41 Billion US Dollars

Illustration (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) recorded Indonesia's trade balance again in the surplus in November 2023 of US$2.41 billion, down from US$1.06 billion when compared to October 2023 of US$3.48 billion.

Meanwhile, on an annual basis, it fell 2.68 billion US dollars compared to November 2022.

Deputy for Distribution and Services Statistics, Pudji Ismartini, revealed that Indonesia's export value in November 2023 reached 22 billion US dollars or a slight decrease of 0.67 percent compared to exports in October 2023.

Compared to November 2022, the export value fell quite deeply by 8.56 percent.

Meanwhile, Indonesia's import value in November 2023 reached 19.59 billion US dollars, an increase of 4.89 percent compared to October 2023 or an increase of 3.29 percent compared to November 2022.

"Indonesia's trade balance in November 2023 experienced a surplus of 2.41 billion US dollars, mainly from the non-oil and gas sector 4.62 billion US dollars, but was induced by a deficit in the oil and gas sector worth 2.21 billion US dollars," he explained in his statement, Friday, December 15.

According to Pudji, the trade balance surplus was supported by a surplus of non-oil and gas (non-oil and gas) commodities, which amounted to 4.62 billion US dollars.

Meanwhile, the main surplus contributor commodities are mineral fuel (HS 27) animal fat and oil (HS 15) and iron and steel (HS 72).

However, this non-oil and gas trade balance surplus is lower than October 2023 and November 2022.

Pudji said that the oil and gas trade balance recorded a deficit of 2.21 billion US dollars in November 2023.

With commodities contributing to the deficit, it is the result of crude oil and oil.

Furthermore, Pudji said, cumulatively, the total surplus of Indonesia's trade balance throughout January 2023 to November 2023 was 33.63 billion US dollars. The surplus shrank 33.46 percent, when compared to the same period in 2022 which reached 50.54 billion US dollars.

"Cumulatively until November 2023, the total trade balance surplus this year is lower than the same period last year," concluded Pudji.