No. 27/9/DKom
Based on data published by BPS-Statistics Indonesia, Indonesia amassed a trade surplus in December 2024 totalling USD2.24 billion, thus maintaining the USD4.37 billion surplus recorded in November 2024. Consequently, Indonesia's trade balance in 2024 recorded a USD31.04 billion surplus after recording a USD36.89 billion surplus in 2023. Bank Indonesia views the trade surplus positively in terms of further bolstering 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 recorded in December 2024 primarily stemmed from a solid non-oil and gas trade surplus. The non-oil and gas trade balance in December 2024 recorded a USD4.0 billion surplus in line with robust non-oil and gas exports that reached USD21.92 billion. Positive non-oil and gas export performance was underpinned by exports of commodities based on natural resources, such as precious metals and jewellery/gems as well as mineral fuel, along with manufacturing exports, including chemical products in addition to vehicles and parts. 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 increased to USD1.76 billion in December 2024 in line with a larger increase in oil and gas imports than the increase recorded in oil and gas exports.
Jakarta 15th January 2025
Communication Department
Ramdan Denny Prakoso
Executive Director
