The Central Statistics Agency (BPS) noted that Indonesia’s trade balance surplus experienced a sharp decline. In July 2024, the trade balance surplus was US$470 million or Rp7.3 trillion. This figure is far below the previous month’s achievement of $1.92 billion or equivalent to Rp30.1 trillion on a monthly basis.
“The July surplus is lower compared to the previous month or compared to the same month the previous year,” said Acting Head of BPS Amalia A. Widyasanti at the Official Statistics News event in Jakarta, Thursday (15/8).
Amalia said that the July 2024 trade balance surplus was supported by non-oil and gas commodities amounting to US$2.61 billion with the main contributing commodities being mineral fuels, especially coal, fats and vegetable oils, and iron and steel.
At the same time, the trade balance for oil and gas commodities recorded a deficit of US$2.13 billion, with the commodities contributing to the deficit being oil and crude oil products.
BPS also noted that Indonesia experienced a trade balance surplus with several countries, and the three largest were America with a value of US$1.27 billion, India US$1.23 billion and the Philippines US$740 million.
Commodities contributing to the surplus in the trade balance of goods with America include electronic equipment and its parts and clothing and accessories.
With India, the surplus is contributed by mineral fuels, animal/vegetable fats and oils and iron and steel. Meanwhile, with the Philippines, Indonesia has a surplus thanks to the commodities of vehicles and their parts, mineral fuels and iron and steel. (Z-11)
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