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Sumatera Selatan Trade Balance August 2023 Surplus US$362.81 million.

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Release Date	:	October 2, 2023
File Size	:	2.54 MB

Abstract

The export value of South Sumatra in August 2023 reached US$505.60 million or decreased by 7.21 percent compared to exports in July 2023. Compared to August 2022, the export value decreased by 31.75 percent.
Non-oil and gas exports in August 2023 reached US$450.60 million, down 11.04 percent compared to July 2023. Compared to August 2022, non-oil and gas exports fell by 36.40 percent.
Cumulatively, the export value of South Sumatra from January to August 2023 reached US$4,516.84 million or a decrease of 8.86 percent compared to the same period in 2022.
The largest share of exports in August 2023 was China at US$180.54 million, Malaysia at US$58.41 million and South Korea at US$58.20 million.
Cumulatively, South Sumatra's largest export value from January to August 2023 was aimed at China at US$1,891.37 million, India at US$453.79 million, and Malaysia at US$356.34 million, with the contribution of the three reaching 59.81 percent. Meanwhile exports to ASEAN and the European Union were 22.24 percent and 3.02 percent respectively.
The import value of South Sumatra in August 2023 reached US$142.79 million, up 108.16 percent compared to July 2023, and up 49.05 percent compared to August 2022.
Oil and gas imports in August 2023 were worth US$2.55 million, up 35.86 percent compared to July 2023, and down 74.14 percent compared to August 2022.
Non-oil and gas imports in August 2023 were valued at US$140.24 million, up 110.20 percent compared to July 2023, and up 63.19 percent compared to August 2022.
The three largest suppliers of imported goods from January to August 2023 are China US$271.66 million (47.92 percent), Malaysia US$52.58 million (9.27 percent), and Vietnam US$36.98 million (6.52 percent) . The import value from ASEAN in January-August 2023 was US$151.52 million (26.73 percent) and the European Union was US$60.39 million (10.65 percent).
South Sumatra's trade balance in August 2023 experienced a surplus of US$362.81 million, originating from the non-oil and gas sector of US$310.36 million, and the oil and gas sector of US$52.45 million.