Indonesia’s export decline continues in August, trade surplus maintained

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16th September 2023 – (Jakarta) Indonesia experienced a significant decline in exports in August, with a year-on-year drop of 21.21 percent, amounting to 22.00 billion U.S. dollars, as reported by Statistics Indonesia (BPS) on Friday.

Leading commodities, including coal, palm oil, and iron and steel, faced substantial contractions. Coal exports decreased by 48.91 percent compared to the previous year, while palm oil exports saw a decline of 35.23 percent. Although iron and steel exports only fell by 0.96 percent, they still contributed to the overall downward trend.

Amalia Widyasanti, the acting head of BPS, revealed during a press conference that the cumulative value of Indonesia’s exports from January to August stood at 171.52 billion U.S. dollars, reflecting a decrease of 11.85 percent compared to the same period in the previous year.

China, the United States, and India were the primary non-oil and gas export destinations in August, accounting for 45.20 percent of the total export contribution.

Conversely, the value of imports in August recorded a decline of 14.77 percent, amounting to 18.88 billion U.S. dollars compared to the same month last year.

Despite the challenging export conditions, Indonesia managed to maintain its trade surplus, reaching 3.12 billion U.S. dollars in August. This marked the country’s 40th consecutive month of maintaining a surplus in its trade balance.