Supported by Non-oil and gas Commodities, Indonesia's Trade Balance Records 40th Consecutive Month of Surplus

JAKARTA. Indonesia's trade balance again recorded a positive performance. Based on data from Statistics Indonesia (BPS), the trade balance in August 2023 recorded a surplus of US$ 3.12 billion. Thus, Indonesia's trade balance has been in surplus for 40 consecutive months.

Quoted from cnnindonesia.com, the Acting Head of BPS Amalia Adininggar stated that despite the surplus, the figure was still lower than the trade balance performance in August last year, which reached US$5.78 billion.

"Indonesia's trade balance has recorded a surplus for 40 consecutive months since May 2020. However, when compared to the same month last year, it is indeed lower," Amalia said in a press conference, on Friday (15/9).

Amalia continued, that the trade balance surplus in August was mostly supported by non-oil and gas commodities which experienced a surplus of US$4.47 billion. Commodities that have the main contribution include vegetable animal fats and oils, mineral fuels, and steel.

Quoting Kontan.co.id, the non-oil and gas trade balance surplus in August 2023 was also higher than the previous month.

Meanwhile, the oil and gas trade balance experienced a deficit, amounting to US$ 1.34 billion. The main contributing commodities to the deficit were crude oil and oil products. (KEN)