The trade balance of Indonesia in June 2023 recorded a surplus of USD 3.45 billion, attributed to higher export realization compared to imports. The Secretary-General of the Central Statistics Agency (BPS), Atqo Mardiyanto, explained that both the oil and non-oil sectors experienced a decline in exports, influenced by the decrease in prices of key commodities. Non-oil exports in June amounted to USD 19.34 billion, down 5.17% compared to May 2023. The mining sector and others witnessed the most significant monthly and annual declines in export value, with respective decreases of 15.3% and 37.49%. Fuel minerals, nickel and its derivatives, and precious metals and gemstones were among the commodities with the deepest decline in non-oil exports.
Regarding oil exports, the value in June 2023 reached USD 1.26 billion, down 3.64% compared to May 2023. The decrease in oil exports was mainly due to a 10.35% drop in gas exports. Year on year, oil exports experienced a significant decline of 21.18% compared to June 2022. China, the United States, and India were the largest destinations for non-oil exports in June. However, the value of non-oil exports to China, Indonesia's main trading partner, decreased in June. The export value to China reached USD 4.58 billion, accounting for 23.7% of Indonesia's total exports. Exports to the United States and India also experienced declines in both monthly and annual comparisons. The top non-oil export commodities in June 2023 included mineral fuels, animal and vegetable fats and oils, iron and steel, precious metals and gemstones, metal ores, nickel and its derivatives, garments and accessories (knitted), residues and by-products of the food industry, inorganic chemicals, and ships, boats, and floating structures.
