Indonesia's Trade Balance Surplus 55 Months In A Row, Value Of 4.42 Billion US Dollars In November 2024

JAKARTA - The Central Statistics Agency (BPS) noted that Indonesia's trade balance still recorded a surplus of 4.42 billion US dollars, an increase of 1.94 billion US dollars on a monthly basis.

"Thus, Indonesia's trade balance has recorded a surplus for 55 consecutive months since May 2020," said Acting Head of BPS, Amalia Adininggar Widyasanti, Monday, December 16.

Amalia explained that the trade balance surplus in November 2024 was relatively higher than the previous month (mom) and the same month last year (yoy).

Amalia said the surplus conditions in November 2024 were supported by a surplus of non-oil and gas commodities with surplus contributors, mainly mineral fuel, fat and vegetable hewat oil (HS15) and iron and steel (HS72).

"At the same time, the oil and gas trade balance recorded a deficit of 1.25 billion US dollars, which was offset by oil and crude products," continued Amalia.

Amalia added that in November 2024 Indonesia experienced a surplus of trade in goods with several countries and the 3 largest was with the United States which recorded a surplus of 1.58 billion US Dollars, followed by a surplus with India of 1.12 billion US dollars and finally with the Philippines amounting to 770 million US dollars.

Indonesia also experienced a trade deficit with several countries and the 3 largest deficits including Brazil amounting to US $ 0.34 billion.

"With Australia 0.32 billion US Dollars and with China 0.28 billion US Dollars," Amalia said.