Indonesia Records Trade Surplus for 40 Consecutive Months

Indonesia's trade balance recorded a surplus trend for 40 consecutive months in August 2023

IDXChannel - Indonesia's trade balance recorded a surplus trend for 40 consecutive months in August 2023, according to data released by the Central Statistics Agency (BPS).

"In August 2023, Indonesia's trade balance recorded a surplus of USD3.12 billion," said Acting Head of BPS Amalia Adininggar Widyasanti in Jakarta on Friday (15/9/2023).

Last month, The non-oil and gas sector recorded a trade surplus of USD4.46 billion, while the oil and gas sector logged a trade deficit of USD1.34 billion.

According to Amalia, the country's trade surplus in August 2023 was higher compared to the previous month.

Cumulatively, Indonesia's trade balance in the January-August period reached USD24.34 billion. This figure decreased from USD34.89 billion in the same period last year.

"Cumulatively, from January to August 2023, the total trade balance surplus this year was lower than the same period last year," continued Amalia.

Indonesia's total export value in August 2023 reached USD 22 billion, an increase of 5.47% compared to exports in July 2023.

Meanwhile, the country's total import value last month stood at USD18.88 billion, down 3.53% compared to the previous month. (WHY)