Indonesia's trade balance once again showed a positive result with a surplus of $2.39 billion in June 2024. This achievement marks the continuation of a 50-month consecutive surplus trend since May 2020, as reported by the Central Statistics Agency (BPS).
Although there was a slight decrease from May's surplus of $2.92 billion, Indonesia's overall trade performance shows an encouraging trend.
This surplus was achieved thanks to the synergy between the export and import sectors. In June, Indonesia's export value reached $20.84 billion, showing a 1.17 percent annual increase despite a 6.65 percent decline compared to May. On the other hand, the import value in June was $18.45 billion, down 4.89 percent from May but up 7.58 percent compared to June 2023.
Non-oil and gas commodities were the main contributors to the trade balance surplus, with a surplus value of $4.43 billion. Several non-oil and gas commodities that made significant contributions include mineral fuels (HS 27), animal and vegetable fats and oils (HS 15), and iron and steel (HS 72).
However, Indonesia's oil and gas sector is still burdened by a deficit. In June 2024, the oil and gas deficit reached $2.04 billion, deeper compared to May ($1.33 billion) and June 2023 ($0.96 billion).
Despite showing a positive trend for 50 consecutive months, the pace of Indonesia's trade balance surplus in June 2024 slowed compared to the same period in 2023.
Up to June 2024, the trade balance surplus reached $15.45 billion, $4.46 billion lower than the same period in 2023, which was $19.91 billion.
Nevertheless, this surplus trend remains maintained because the export value is still higher than the import value. This achievement is worthy of appreciation as concrete evidence of the resilience and competitiveness of Indonesia's trade sector amid challenging global situations.
