Government to Boost Indonesia’s Narrowing Trade Surplus

The Central Statistics Agency (BPS) has reported that the trade surplus trend in November 2023 reached $2.41 billion. This achievement was lower compared to the previous month, as export performance was corrected, while imports increased.

Annasa Rizki Kamalina & Ni Luh Anggela

16 Des 2023 - 23.42
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Government to Boost Indonesia’s Narrowing Trade Surplus

Foto udara kondisi tempat penyimpanan petikemas di pelabuhan IPC Terminal Petikemas ( IPC TPK ), Tanjung Priok, Jumat (20102023). Bisnis/Adam Rumansyah

Bisnis, JAKARTA – Trade performance maintained a surplus, although it slowed down due to fluctuations in international commodity prices and the potential for an increase in the rate of import growth.

The Central Statistics Agency (BPS) reported a trade balance surplus trend of $2.41 billion for November 2023. This figure, while still in surplus, represents a decrease compared to the previous month, attributed to corrections in export performance and an uptick in imports.

In November 2023, exports amounted to $22 billion, marking an 8.56% decrease compared to the same month in 2022. On a monthly basis, the export value experienced a slight decline of 0.67%. Conversely, imports reached $19.59 billion, indicating a 3.29% year-on-year (YoY) growth.

The increased import activity aligns with the growing Manufacturing Purchasing Manager's Index (PMI) figures and economic resilience strategies amid the global economic slowdown. Indonesia's Manufacturing PMI climbed from 51.5 to 51.7 in November 2023, showcasing a 27-month consecutive increase in factory activity, with production registering the most significant surge since August 2023.

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Editor: Rayful Mudassir
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Government to Boost Indonesia’s Narrowing Trade Surplus

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