The Trade Balance In August 2024 Reaches 2.90 Billion US Dollars, A 52-Month Surplus In A Row

Illustration (Photo: Doc Antara)

JAKARTA - The Central Statistics Agency (BPS) noted that Indonesia's trade balance recorded a surplus in August 2024 of US$2.90 billion, an increase of US$2.40 billion compared to the previous month.

This surplus makes Indonesia's trade balance a surplus of 52 consecutive months.

Deputy for Distribution and Services of BPS Pudji Ismartini said that the trade balance surplus in August 2024 was driven by a surplus of non-oil and gas commodities of US$4.34 billion with commodities, mainly mineral fuels or HS 27, animal fats and oils. plant HS 15, and Iron and Steel HS 72.

"Thus, Indonesia's trade balance has recorded a surplus of 52 consecutive months since May 2020," he said at a press conference, Tuesday, September 17.

Pudji explained that the August 2024 surplus was higher than the July 2024 surplus, but it was still lower than the surplus in August 2023.

The non-oil and gas trade balance surplus in August 2024 is higher than the previous month, but lower than in August 2023.

Meanwhile, the oil and gas trade balance recorded a deficit of US$1.44 billion, with commodities contributing to the oil and gas trade balance deficit being the result of crude oil and oil.

"The oil and gas trade balance deficit in August 2024 is not as deep as the previous month but is still deeper than the same month last year," he explained.