Indonesia’s steel industry exports increased by 18.23% in 2024

Data released by the Indonesian Central Statistics Bureau on the 15th showed that in December 2024, Indonesia had a trade surplus of US$2.24 billion, exports of US$23.46 billion, and imports of US$21.22 billion.

Amalia, acting director of the Indonesian Central Statistics Bureau, said at a press conference that this was the 56th consecutive month that Indonesia had recorded a trade surplus.

In December 2024, Indonesia’s exports reached US$23.46 billion, down 2.24% from November 2024. However, compared with the same period in 2023, exports increased by 4.78%. At the same time, in December 2024, Indonesia’s total imports were US$21.22 billion, up 8.1% from November 2024 and 11.07% from December 2023.

According to reports, Indonesia’s trade surplus in 2024 was US$31.04 billion, down US$5.84 billion from 2023. The non-oil and gas trade balance had a surplus of $51.44 billion, while the oil and gas sector had a deficit of $20.4 billion, a slight improvement from the previous year, down $490 million.

Exports reached $264.7 billion in 2024, up 2.29% from 2023, and imports reached $233.66 billion, up 5.31%.

Affected by prices, despite a decrease in the surplus of mineral fuels such as coal, export volumes still increased by 7.8%. Similarly, the steel industry’s export volume increased by 18.23%, although prices fell by 9.27% ​​compared to the previous year. On the positive side, Indonesia’s exports of commodities such as coffee, tea, spices, nickel, copper and cocoa increased significantly, contributing to the overall trade surplus. The surplus of these products increased by more than $1 billion each.