Sumatera Selatan Trade Balance December 2023 Surplus US$435.33 million

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.