Indonesia's Trade Balance Surplus US$ 2.02 Billion in January 2024

TRADE BALANCE - JAKARTA. Indonesia's trade balance recorded a surplus again in January 2024, although it shrank from the previous month. 

The Central Statistics Agency (BPS) recorded that the surplus of Indonesia's trade balance at the beginning of this year was US$ 2.02 billion. 

“However, this is a decrease of US$ 1.27 billion from December 2023,” explained the Acting Head of BPS Amalia Adininggar, on Thursday (15/2) in Jakarta. 

The trade balance surplus was supported by a surplus in non-oil and gas commodities, which was US$ 3.32 billion. 

Read Also: Indonesia Posts Smaller-than-Expected $2.01 bln Trade Surplus in Jan

The main commodities contributing to the surplus are mineral fuels (HS 27), animal or vegetable fats and oils (HS 15), and iron and steel (HS 72). 

Meanwhile, the oil and gas trade balance recorded a deficit of US$ 1.30 billion, with the commodities contributing to the deficit being oil products and crude oil. 

Despite shrinking, Indonesia's trade performance in January 2024 led to Indonesia's trade balance recording a surplus for 45 consecutive months, since May 2020.