Indonesia Posts 41 Straight Months of Trade Surplus, BPS Announces

TEMPO.CO, Jakarta - Acting Head of Statistics Indonesia (BPS) Amalia Adininggar Widyasanti announced that the country's trade balance recorded a surplus of US$3.42 billion in September 2023. “Thus, Indonesia's trade balance has recorded a surplus for 41 consecutive months since May 2020,” she said in a press conference in Central Jakarta, on Monday, October 16, 2023.

The trade balance value in September 2023 increased by US$300 million compared to the previous month. However, the surplus value was lower compared to the same month last year (yoy).

Amalia explained that the trade balance surplus as of September 2023 was mainly supported by non-oil and gas of US$ 5.34 billion, with the main commodities being mineral fuels, animal fats and vegetable oils, and steel.

The non-oil and gas trade balance surplus in September 2023 was higher than the previous month of US$4.46 billion but lower than the same month last year.

Meanwhile, Indonesia's oil and gas trade balance recorded a deficit of US$1.92 billion with crude oil and petroleum products contributing to the deficit. “The oil and gas trade balance deficit in September 2023 is higher than the previous month but lower than the same month last year.”

Overall, Amalia went on, Indonesia's total trade balance surplus from January to September 2023 reached US$27.75 billion, or US$12.1 billion lower than the same period in 2022.

At least three main trading partners drove the trade surplus, including the United States, India, and the Philippines.

ANTARA

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