No. 26/200/DKom
Based on data published by BPS-Statistics Indonesia, Indonesia amassed a larger trade surplus in August 2024 totalling USD2.90 billion, increasing from USD0.50 billion in July 2024. Bank Indonesia views the trade surplus positively in terms of further strengthening external economic resilience in Indonesia. Moving forward, Bank Indonesia will continue strengthening policy synergy with the Government and other relevant authorities to increase external resilience in pursuit of sustainable national economic growth.
The trade surplus was maintained primarily due to a wider non-oil and gas trade surplus. The non-oil and gas trade balance in August 2024 recorded a USD4.34 billion surplus in line with higher non-oil and gas exports that reached USD22.36 billion. Positive non-oil and gas export performance was supported by exports of commodities based on natural resources, such as fixed animal/vegetable fats and oils (CPO) and metalliferous ores, slag and ash, as well as manufacturing exports, including electrical machinery, apparatus and appliances, mechanical equipment as well as vehicles and components. Based on destination country, non-oil and gas exports bound for China, the United States and India were still the main contributors to Indonesia's export performance. On the other hand, the oil and gas trade deficit narrowed to USD1.44 billion in August 2024 due to a deeper decline in oil and gas imports than the decrease recorded in oil and gas exports.
Jakarta, 17th September 2024
Communication Department
Erwin Haryono
Assistant Governor
