The goods trade balance surplus in November was supported by a surplus in non-oil and gas commodities..Jakarta (ANTARA) - Statistics Indonesia (BPS) revealed that Indonesia’s goods trade balance in November 2023 recorded US$2.41 billion in surplus.
“The goods trade balance surplus in November was supported by a surplus in non-oil and gas commodities, amounting to 4.62 billion US dollars. The commodities that contributed to the surplus were mineral fuel, animal and vegetable oils and fats, as well as iron and steel," BPS’ Deputy for Distribution Statistics and Services, Pudji Ismartini, stated at a press conference in Jakarta on Friday.
Ismartini said the goods trade balance maintains its surplus streak that has lasted for 43 months since May 2020.
However, the goods trade balance for oil and gas recorded a deficit of US$2.21 billion, with commodities, such as oil yield and crude oil contributing to foreign exchange.
Cumulatively, until November 2023, Indonesia’s goods trade balance surplus reached US$33.63 billion, or US$16.91 billion (33.46 percent) less than the corresponding period in the previous year.
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In November 2023, Indonesia recorded a surplus in its goods trade balance with several countries. Three countries with the biggest surplus were India, amounting to US$1.54 billion; the United States, US$1.25 billion; and the Philippines, US$0.79 billion.
The surplus with India was boosted by commodities, such as mineral fuel, animal and vegetable oils and fats, as well as iron and steel.
Indonesia also recorded a trade deficit with several nations. Three countries with whom Indonesia recorded the most deficit were Australia, amounting to US$0.46 billion; Brazil, US$0.37 billion; and Thailand, US$0.34 billion.
The deepest deficit with Australia was boosted by commodities, such as metal ore, crust and ash, sugar and confectionery, and mineral fuel.
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In November 2023, Indonesia’s export value reached US$22 billion, or a slight 0.67-percent decrease as compared to October 2023.
Oil and gas exports were recorded at US$1.28 billion, which was a 6.39-percent decrease as compared to the previous month. Non-oil and gas exports were recorded at US$20.72 billion, which slightly decreased by 0.29 percent.
Indonesia’s import value was recorded at US$19.59 billion, which increased by 4.89 percent as compared to the previous month.
Oil and gas imports were recorded at US$3.49 billion, or an increase of 8.79 percent. Non-oil and gas imports were recorded at US$16.1 billion, or an increase of 4.08 percent.
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