"Thus, Indonesia's trade balance has recorded a surplus for 45 consecutive months since May 2020," Acting Head of BPS Amalia A. Widyasanti stated in the January 2024 Statistical News here on Thursday.
Widyasanti remarked that this value had decreased by US$1.27 billion as compared to the figure of US$3.31 billion in December 2023. The surplus in January 2024 was lower than the previous month and the same month last year.
This surplus value was supported by non-oil and gas commodities amounting to US$3.32, with commodities contributing to the surplus mainly being mineral fuels, fats, animal and vegetable oils, as well as iron and steel.
The BPS also noted that at the same time, the oil and gas trade balance experienced a deficit of US$1.03 billion and commodities contributing to the deficit were oil and crude oil products.
This deficit was lower than the deficit of US$1.89 billion in the previous month.
Based on its partner countries, Indonesia experienced a goods trade surplus of US$1.38 billion with India, US$1.21 billion with the United States, and US$0.63 billion with the Philippines.
"The largest surplus with India is driven by mineral fuel commodities, fats, animal and vegetable oils, as well as slag and metal ash," Widyasanti stated.
Indonesia also experiences a trade deficit with several countries, with three of them being China, amounting to US$1.38 billion; Australia, US$0.43 billion; and Thailand, US$0.42 billion.
The largest deficit with China was driven by machinery and mechanical equipment and their parts, electrical machinery and equipment and their parts, as well as plastics and plastic goods.
Meanwhile, exports in January 2024 had reached US$20.52 billion, down 8.34 percent as compared to December 2023.
Furthermore, the import value in January 2024 had reached US$18.51 billion, or down 3.13 percent as compared to December 2023.
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Translator: Maria Cicilia Galuh Prayudhia, Katriana
Editor: Rahmad Nasution
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