The Central Statistics Agency (BPS) has announced that Indonesia has successfully recorded a trade surplus in goods amounting to USD 3.12 billion in August 2023. While this figure has increased by 1.83 percent compared to the previous month, it has experienced a decrease of 2.65 percent when compared to the same period last year.

This announcement was made by the Acting Head of BPS, Amalia Adininggar Widyasanti, in an online release on September 15, 2023. According to her, Indonesia has achieved a surplus in the trade balance for 40 consecutive months since May 2020.

BPS notes that the surplus in the trade balance for August 2023 has increased to USD 1.31 billion compared to the previous month, although this figure is lower than the same period last year. The surplus in the trade balance for August was driven by positive outcomes in the non-oil and gas commodities sector, reaching USD 4.47 billion. "Commodities such as fats and vegetable oils, mineral fuels, as well as iron and steel were the main contributors to this surplus," stated Amalia.

Furthermore, the surplus in the non-oil and gas trade balance for August 2023 also increased to USD 3.22 billion compared to the previous month.

Meanwhile, the trade balance for oil and gas commodities in August recorded a deficit of USD 1.34 billion, with crude oil and oil products being the main contributors to this deficit. Nevertheless, the deficit in the non-oil and gas trade balance in August 2023 decreased compared to the previous month and the same period last year.

Overall, from January to August 2023, Indonesia's total trade surplus reached USD 24.34 billion, despite experiencing a decrease of approximately USD 10.55 billion compared to the same period the previous year.

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