Indonesia’s trade surplus fell to USD 3.12 bln in August, down from USD 5.71 bln in the same month of 2022, driven by a sharper decrease in exports compared to imports; exports dropped by 21.21% YoY, while imports fell by 14.77% YoY. From January to August, the trade balance still posted a surplus of USD 24.34 bln, but both exports and imports are on a downward trend, shrinking by 11.85% and 7.83%, respectively.