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South Sumatra's Trade Balance in July 2024 Surplus US$385.92 million.

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Release Date	:	September 2, 2024
File Size	:	3.17 MB

Abstract

Exports

The export value of South Sumatra in July 2024 reached US$623.02 million or decreased by 0.45 percent compared to exports in June 2024. And when compared to July 2023, the export value increased by 14.34 percent.

Non-oil and gas exports in July 2024 reached US$580.38 million, decreased by 0.08 percent compared to June 2024. Compared to July 2023, non-oil and gas exports increased by 14.58 percent.

Cumulatively, the export value of South Sumatra for the January–July 2024 period reached US$3,569.64 million or decreased by 11.01 percent compared to the same period in 2023.

The largest export share in July 2024 was China at US$235.17 million, India at US$62.23 million and South Korea at US$75.3 million.

Cumulatively, the largest export value of South Sumatra from January to July 2024 was directed to China at US$1302.92 million, India at US$412.05 million, and Malaysia at US$281.71 million, with the contribution of the three reaching 55.93 percent. Meanwhile, exports to ASEAN and the European Union were 23.90 percent and 3.44 percent respectively.

Imports

The value of South Sumatra's imports in July 2024 reached US$237.10 million, up 69.55 percent compared to June 2024, and up 245.65 percent compared to July 2023.

Oil and gas imports in July 2024 were worth US$1.81 million, up 80.10 percent compared to June 2024, and down 3.38 percent compared to July 2023.

Non-oil and gas imports in July 2024 were worth US$235.29 million, up 69.47 percent compared to June 2024, and up 252.66 percent compared to July 2023.

The three largest import supplier countries from January to July 2024 were China at US$811.49 million (60.25 percent), Finland at US$174.16 million (12.93 percent), and Germany at US$53.64 million (3.98 percent). The import value from ASEAN in January-July 2024 was US$165.50 million (12.29 percent) and the European Union US$261.43 million (19.41 percent).

The South Sumatra Trade Balance in July 2024 experienced a surplus of US$385.92 million originating from the non-oil and gas sector of US$345.10 million and the oil and gas sector of US$40.83 million.

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