Indonesia’s goods trade balance in September 2024 experienced a surplus of US.26 billion. The surplus value was higher than the previous month which was recorded at US$2.78 billion. This also made the trade balance surplus for 53 consecutive months.
“The trade balance surplus in September 2024 is higher than the previous month. Thus, the goods trade balance has been in surplus for 53 consecutive months since May 2020,” said Acting Head of the Central Statistics Agency (BPS) Amalia Adininggar Widyasanti in a press conference. , Jakarta, Tuesday (15/10).
The trade surplus position in September 2024 was obtained because Indonesia’s non-oil and gas trade performance experienced a surplus of US$4.62 billion and oil and gas trade performance had a deficit of US$1.36 billion.
Also read: Surplus is useless if trading performance is eroded
The non-oil and gas trade surplus, said Amalia, was largely supported by HS27 mineral fuel commodities, HS15 vegetable animal fats and oils, and HS72 iron and steel. Meanwhile, the oil and gas trade deficit was driven by imports of oil and crude oil products which were higher than exports.
Meanwhile, cumulatively in the January-September 2024 period, Indonesia’s trade surplus was recorded at US$21.98 billion. This value is lower than the same period last year of US$27.72 billion.
BPS data shows that cumulative export performance from January to September 2024 reached US$192.85 billion, slightly higher than the same period in 2023 of US$192.24 billion.
Meanwhile, the cumulative value of imports from January to September 2024 was recorded at US$170.87 billion, higher than the same period in 2023 which was valued at US$164.52 billion.
BPS recorded that Indonesia’s export value was US$22.08 billion, down 5.80% from the previous month. Likewise with import performance. Indonesia’s import value in September 2024 was US$18.82 billion, down 8.91% from the previous month. (Z-11)
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