JAKARTA - Indonesia's trade balance during January-September 2024 fell 20.71% compared to the same period in 2023. The decline in the trade balance was due to an increase in the deficit in the oil and gas sector and a decline in the non-oil and gas sector.

Data from the Central Statistics Agency (BPS) quoted Thursday (17/10), the total oil and gas balance for the January-September 2024 period fell to US$21.98 billion from US$27.72 billion. The oil and gas balance recorded a deficit of US$15.04 billion, up from a deficit of US$13.97 billion and oil and gas fell to US$37.02 billion from US$41.69 billion.

Meanwhile, total imports during the same period this year were recorded at US$170.86 billion, of which oil and gas imports were US$26.74 billion and non-oil and gas imports were US$144.12 billion. Total exports were recorded at US$192.84 billion, with oil and gas exports contributing US$11.69 billion and US$181.15 billion.

In September 2024, the trade balance narrowed 0.8% to US$3.25 billion from US$3.28 billion in September 2023. The oil and gas sector recorded a deficit of US$1.35 billion, down from US$1.89 billion and non-oil and gas fell to US$4.61 billion from US$5.17 billion.

In the same month, total imports were worth US$18.82 billion, of which oil and gas imports were US$2.52 billion and non-oil and gas imports were US$16.29 billion. Meanwhile, total exports amounted to US$22.08 billion, with a contribution from oil and gas exports of US$1.16 billion and non-oil and gas exports of US$20.91 billion. (LK/LM)