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Sumatera Selatan Trade Balance December 2023 Surplus US$435.33 million

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Release Date	:	February 1, 2024
File Size	:	6.4 MB

Abstract

EXPORTS

The value of Sumatera Selatan’s exports in December 2023 reached US$614.46 million, increased 32.24 percent compared to exports in November 2023 and decreased 4.43 percent compared to December 2022.
Non-oil and gas exports in December 2023 reached US$574.14 million, increased 29.59 percent compared to non-oil and gas exports in November 2023. Meanwhile, it decreased 4.44 percent compared to December 2022.
Sumatera Selatan’s exports cumulatively during January–December 2023 reached US$ 6.585 billion, decreased 13.16 percent over the same period in 2022.
The main country destinations of exports in December 2023 were China at US$172.94 million, India at US$71.60 million, and South Korea at US$28.93 million.
Sumatera Selatan’s exports cumulatively during January–December 2023 reached US$2.634 billion for China, US$724.37 million for India and US$663.33 million for South Korea. These three countries reached 58.51 percent of total export. Meanwhile, the export to ASEAN countries and European Union are 22.80 percent and 2.99 percent.

IMPORTS

Imports of Sumatera Selatan in December 2023 were worth US$179.13 million, increased by 19.96 percent compared to November 2023, and grew by three times compared to December 2022.
Imports of oil and gas in December 2023 were US$1.88 million, decreased by 31.79 percent compared to November 2023, and increased by 223.18 percent compared to December 2022.
The big three largest trading partner countries of non-oil and gas imports in January– December 2023 were China for US$622.81 million (53.49 percent), Ivory Coast for US$79.60 million (6.84 percent), and Malaysia for US$74.91 million (6.43 percent). Imports of non-oil and gas from ASEAN and EU countries were US$241.17 million (20.71 percent) and US$139.16 million (11.95 percent), respectively.
Sumatera Selatan’s balance of trade in December 2023 experienced a surplus of US$435.45 million, which affected by a surplus of non-oil and gas of US$397 million and a surplus of oil and gas of US$38.45 million in oil and gas.

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