Based on data from the Central Bureau of Statistics (BPS), Indonesia’s trade balance was recorded with US$2.02 billion surplus in January 2024, continuing the uptrend in the last 45 months since May 2020. However, the value of the surplus in January 2024 was 38.60% lower than in the previous month when it was recorded at US$3.29 billion mtm and lower than in January 2023 of US$3.88 billion.