Indonesia's trade balance has once again recorded a surplus in August 2023. The Central Statistics Agency (BPS) reported that Indonesia's trade surplus in August 2023 amounted to $3.12 billion. This figure represents an increase when compared to the trade surplus in the previous month, which stood at $1.31 billion.

Amalia Adininggar, the Acting Head of BPS, revealed that the trade surplus for the month was mainly driven by the non-oil and gas trade surplus. "Non-oil and gas trade recorded a surplus of $4.47 billion," explained Amalia during a press conference on Friday (September 15). She added that the primary contributors to this surplus were vegetable and animal fats and oils, mineral fuels, and iron and steel.

Amalia also pointed out that the non-oil and gas trade surplus in August 2023 was higher compared to the previous month. On the other hand, the oil and gas trade balance continued to show a deficit of $1.34 billion. The main contributors to this deficit were crude oil and oil products. With these developments, Indonesia's trade balance has achieved a surplus for 40 consecutive months since May 2020.

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