Indonesia's 2023 Trade Balance Surplus Drops 33.46 Percent Due To Less Exports And Imports

Illustration (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) said that Indonesia's trade balance surplus throughout 2023 has shrunk compared to 2022.

Deputy for Distribution and Services Statistics, BPS Pudji Ismartini, said that cumulatively the total value of the surplus until December 2023 was 36.93 billion US dollars, or a decrease of 17.52 billion US dollars compared to the same period the previous year of 54.46 billion US dollars.

"The trade balance surplus in 2023 decreased by around 33.46 percent compared to the same period the previous year," said Pudji in the release of the BPS Official Statistical News (BRS), Monday, January 15, 2024.

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

The total export value throughout January 2023 to December 2023 was 258.82 billion US dollars, a decrease of 11.33 percent compared to 2022 which reached 291.90 billion US dollars.

Of this total, oil and gas exports amounted to US$15.92 billion, down 0.47 percent compared to 2022 which amounted to US$16 billion, while non-oil and gas exports reached US$242.90 billion, down 11.96 percent from 2022 which amounted to US$275.91 billion.

Meanwhile, the import value from January 2023 to December 2023 was 221.89 billion US dollars, down 6.55 percent compared to 2022 which was worth 237.45 billion US dollars.

Meanwhile, the total value of oil and gas imports fell 11.35 percent to 35.83 billion US dollars in 2023 compared to 2022 of 40.42 billion US dollars. Then, non-oil and gas imports fell to 186.06 billion US dollars in 2023, down 5.57 percent compared to 2021 amounting to 197.03 billion US dollars.