South Sumatra's Trade Balance in August 2024 Surplus US$394.55 million.

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Release Date	:	October 1, 2024
File Size	:	2.93 MB

Abstract

Exports

Non-oil and gas exports in August 2024 reached US$548.13 million, decreased by 5.56 percent compared to July 2024. Compared to August 2023, non-oil and gas exports increased by 21.64 percent.

Cumulatively, the export value of South Sumatra for the January-August 2024 period reached US$4,156.03 million or decreased by 7.99 percent compared to the same period in 2023.

The largest export share in August 2024 was China at US$203.97 million, India at US$68.20 million and South Korea at US$60 million.

Cumulatively, the largest export value of South Sumatra from January to August 2024 was directed to China at US$1506.90 million, India at US$480.25 million, and South Korea at US$319.80 million, with the contribution of the three reaching 55.51 percent. Meanwhile, exports to ASEAN and the European Union were 23.90 percent and 3.53 percent respectively.

Imports

South Sumatra's import value in August 2024 reached US$191.84 million, down 19.09 percent compared to July 2024, and up 34.35 percent compared to August 2023.

Oil and gas imports in August 2024 were worth US$1.46 million, down 19.56 percent compared to July 2024, and down 42.79 percent compared to August 2023.

Non-oil and gas imports in August 2024 were worth US$190.38 million, down 19.09 percent compared to July 2024, and up 35.75 percent compared to August 2023.

The three largest import supply countries from January to August 2024 were China at US$931.85 million (60.56 percent), Finland at US$194.82 million (12.66 percent), and Germany at US$65.39 million (4.25 percent). The import value from ASEAN in January-August 2024 was US$187.21 million (12.17 percent) and the European Union US$300.92 million (19.56 percent).

South Sumatra's Trade Balance in August 2024 experienced a surplus of US$394.55 million originating from the non-oil and gas sector of US$357.75 million and the oil and gas sector of US$36.80 million.

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South Sumatra's Trade Balance in August 2024 Surplus US$394.55 million.