Sumatera Selatan Trade Balance August 2022 Surplus US$645.09 million

Release Date	:	October 3, 2022
File Size	:	1.88 MB

Abstract

Export

The export value of Sumatera Selatan in August 2022 reached US$740.74 million, a decrease of 14.47 percent compared to exports in July 2022. Compared to August 2021, the export value increased by 57.94 percent.
Non-oil and gas exports in August 2022 reached US$708.53 million, down 13.01 percent compared to July 2022. Compared to August 2021, non-oil and gas exports rose by 54.43 percent.
Cumulatively, the export value of Sumatera Selatan from January to August 2022 reached US$4,953.59 million, an increase of 51.54 percent over the same period in 2021, as well as non-oil and gas exports reaching US$4,664.72 million, up 46.55 percent.
The largest decline in non-oil and gas exports in August 2022 compared to July 2022 occurred in mineral fuel commodities (coal and lignite) of US$93.45 million (22.71 percent), while the largest increase in non-oil and gas exports occurred in pulp and wood commodities of US$10.41 million. (6.35 percent).
By sector, non-oil and gas exports of agricultural products from January to August 2022 rose 31.54 percent compared to the same period in 2021, exports of processing industry products rose 10.26 percent, and exports of mining and other products rose by 140.61 percent.
The largest export in August 2022 was to China at US$282.00 million, followed by India at US$84.03 million, and to Malaysia at US$55.19 million, with the contribution of the three reaching 56.87 percent. Meanwhile, exports to ASEAN and the European Union amounted to US$144.61 million and US$39.61 million, respectively.
Cumulatively, Sumatera Selatan's largest export value from January to August 2022 was aimed at China, India and Malaysia, with a value of US$1,419.26 million, US$702.74 million and US$397.05 million, respectively.

Import

The import value of Sumatera Selatan in August 2022 reached US$95.65 million, up 28.25 percent compared to July 2022, and up 40.14 percent compared to August 2021.

Oil and gas imports in August 2022 were valued at US$9.87 million, up 41.53 percent compared to July 2022, and up 384.94 percent compared to August 2021.

Non-oil and gas imports in August 2022 were valued at US$85.78 million, up 26.88 percent compared to July 2022, and up 29.55 percent compared to August 2021.

The largest increase in imports of non-oil and gas goods in August 2022 compared to July 2022 was rubber and rubber goods, which increased by US$15.96 million (416.59 percent). Meanwhile, the biggest decrease was iron and steel goods, which fell by US$1.51 million (77.62 percent).

The three largest suppliers of imported goods from January to August 2022 were China at US$297.15 million (46.16 percent), Singapore at US$64.01 (9.94 percent), and Thailand at US$38.01 million (5.90 percent). The import value from ASEAN in July was US$212.28 million (32.98 percent) and the European Union US$17.92 million (2.78 percent).

According to the category of use of goods, the value of imports from January to August 2022 against the same period the previous year saw a decline in consumption goods of US$3.68 million (39.09 percent), and capital goods of US$77.21 million (29.31 percent), while raw/auxiliary materials increased by US$145.21 million (47.37 percent).

Sumatera Selatan's trade balance in August 2022 experienced a surplus of US$645.09 million, from the non-oil and gas sector of US$622.75 million, and the oil and gas sector of US$22.34 million.

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