JAKARTA – The trade balance surplus for both oil and gas and non-oil and gas declined by 15.84% throughout 2024 compared to the same period in 2023. This decline was driven by a reduction in the non-oil and gas trade surplus and an increase in the oil and gas trade deficit.

According to data from the Central Statistics Agency (BPS) published on Wednesday (15/1), the trade balance for oil, gas, and non-oil and gas commodities in 2024 recorded a surplus of USD 31.04 billion, down from USD 36.88 billion in 2023.

The decline was due to a drop in the non-oil and gas trade surplus to USD 51.44 billion from USD 56.79 billion, while the oil and gas trade deficit widened to USD 20.39 billion from USD 19.90 billion.

BPS reported total imports of oil, gas, and non-oil and gas commodities amounting to USD 233.65 billion from January to December 2024, an increase of 5.30% from USD 221.88 billion in the same period in 2023.

Meanwhile, total exports of oil, gas, and non-oil and gas commodities rose by 2.29% to USD 264.70 billion from USD 258.77 billion.

For December 2024 alone, the non-oil and gas trade balance surplus fell by 22.81% to USD 3.99 billion from USD 5.17 billion in December 2023. In contrast, the oil and gas trade deficit narrowed to USD 1.75 billion from USD 1.89 billion.

Total imports of oil, gas, and non-oil and gas commodities in December 2024 rose by 11.06% to USD 21.22 billion from USD 19.10 billion in December 2023, while total exports of oil, gas, and non-oil and gas commodities increased by 4.77% to USD 23.46 billion from USD 22.39 billion. (LK/ZH)