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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	:	1.09 MB

Abstract

EXPORT

The export value of South Sumatra in December 2023 reached US$614.46 million or an increase of 32.24 percent compared to exports in November 2023. On the other hand, compared to December 2022, the export value decreased by 4.43 percent. Non-oil and gas exports in December 2023 reached US$574.14 million, up 29.59 percent compared to November 2023. Compared to December 2022, non-oil and gas exports fell by 4.44 percent.
Cumulatively, the export value of South Sumatra from January to December 2023 reached US$ 6,585.52 million or a decrease of 13.16 percent compared to the same period in 2022.
The largest share of exports in December 2023 was China at US$172.94 million, India at US$71.60 million and South Korea at US$28.93 million.
Cumulatively, South Sumatra's largest export value from January to December 2023 was aimed at China amounting to US$ 2,634.15 million, India amounting to US$ 724.37 million and South Korea amounting to US$ 663.33 million, with the contribution of the three reaching 58.51 percent. Meanwhile exports to ASEAN and the European Union were 22.80 percent and 2.99 percent respectively.

IMPORT

The import value of South Sumatra in December 2023 reached US$179.13 million, an increase of 19.96 percent compared to November 2023, and tripled compared to December 2022 with a value of US$54.85 million.
Oil and gas imports in December 2023 were valued at US$1.88 million, down 31.79 percent compared to November 2023, and also decreased by 49.42 percent compared to December 2022.
Non-oil and gas imports in December 2023 were worth US$177.25 million, up 20.93 percent compared to November 2023, and up 223.18 percent compared to December 2022.
The three largest suppliers of imported goods from January to December 2023 are China US$622.81 million (53.49 percent), Ivory Coast US$79.60 million (6.84 percent) and Malaysia US$74.91 million (6.43 percent) . The import value from ASEAN throughout 2023 is US$241.17 million (20.71 percent) and the European Union is US$139.16 million (11.95 percent).
South Sumatra's trade balance in December 2023 experienced a surplus of US$435.45 million, originating from the non-oil and gas sector of US$397 million, and the oil and gas sector of US$38.45 million.

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