Sumatera Selatan’s balance of trade in May 2024

July 1, 2024 | Other Activities

Export

The value of Sumatera Selatan’s exports in May 2024 reached US$504.51 million, increased 18.34 percent compared to exports in April 2024 and decreased 13.08 percent compared to May 2023.
Non-oil and gas exports in May 2024 reached US$476.91 million, increased 22.37 percent compared to non-oil and gas exports in April 2024. Meanwhile, it decreased 11.15 percent compared to May 2023.
Sumatera Selatan’s exports cumulatively during January – May 2024 reached US$2,320.75million, decreased 20.47 percent over the same period in 2023.
The main country destinations of exports in May 2024 were China at US$159.37 million, India at US$60.46 million, and South Korea at US$34.94 million.
Sumatera Selatan’s exports cumulatively during January– May 2024 reached US$819.55 million for China, US$259.54 million for India and US$192.39 million for Malaysia. These three countries reached 54.78 percent of total export. Meanwhile, the export to ASEAN countries and European Union are 24.70 percent and 3.68 percent.

Import

Imports of Sumatera Selatan in May 2024 were worth US$157.78 million, decreased by 6 percent compared to April 2024, and increased by 67.62 percent compared to May 2023.
Imports of oil and gas in May 2024 were US$1.83 million, increased by 8.50 percent compared to April 2024, and decreased by 68.11 percent compared to May 2023.
Imports of non-oil and gas in May 2024 were US$155.94 million, decreased by 6.15 percent compared to April 2024, and increased by 76.46 percent compared to May 2023.
The big three largest trading partner countries in January until May 2024 were China for US$611.75 million (63.08 percent), Finland for US$122.81 million (12.66 percent), and Germany for US$39.13 million (4.04 percent). Sumatera Selatan’s imports cumulatively during January– May 2024 from ASEAN countries reached US$102.72 million (10.59 percent) and European Union reached and US$178.23 million (18.38 percent).
Sumatera Selatan’s balance of trade in May 2024 experienced a surplus of US$346.73 million, which affected by a surplus of non-oil and gas of US$320.97 million and a surplus of oil and gas of US$25.76 million in oil and gas.