Tanjung Priok Port in Jakarta, Indonesia. (Photo: Reuters)Jakarta (VNA) - Statistics Indonesia (BPS) has reported that the country’s trade balance in December last year experienced a surplus of 3.31 billion USD, marking the 44th month in a row of surplus since May 2020.
BPS Deputy for Distribution and Services Statistics Pudji Ismartini said the long-term continuous trade surplus most clearly demonstrates the growth rate of the Indonesian economy in recent times.
Indonesia enjoyed trade surplus with India, the US and the Philippines, however, the total surplus was lower when compared to the same month of 2022, which hit 3.92 billion USD.
Pudji said that the trade balance surplus in December 2023 was obtained from non-oil and gas trade transactions of 5.20 billion USD with commodities contributing to the utam surplus being mineral fuel, animal fat and oil or vegetable, then iron and steel.
Meanwhile, the oil and gas commodity trade balance was recorded at a deficit of 1.89 billion USD with commodities contributing to the deficit being crude oil and oil, she added.
The deficit in the oil and gas trade balance in December 2023 is lower than the previous month, but higher than the same month of 2022, she explained.
Pudji revealed that cumulatively until December 2023 amounted to 36.93 billion USD , down 33.46 % or 17.52 billion USD compared to the figure recorded in the previous year.
Indonesia has continuously posted the trade surplus over the last four years, with the highest number recorded in 2022.
According to Pudji, the Southeast Asian country’s total export value in December 2023 was 22.41 billion USD, up 1.89% compared to November 2022. It spent 19.11 billion USD on imports last month./.
