Indonesia Trade Trends March 2024

According to data released by Statistics Indonesia, the country’s exports decreased 16.4 per cent to USD 22.43 billion in March 2024, while imports dropped 2.6 per cent to USD 17.96 billion in the same period, resulting in a trade surplus of USD 4.47 billion.

Between January and March of 2024, the oil and gas industry reported a USD 5.10 billion deficit. However, the non-oil and gas sector reported a USD 12.41 billion surplus, making the overall surplus reported at USD 7.31 billion.

With non-oil and gas exports of USD 21.15 billion in March 2024, these exports were up 17.12 per cent from February 2024 and down 4.21 per cent from March 2023.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.