ASIATODAY.ID, JAKARTA — Indonesia’s trade balance slipped into a US$1.61 billion deficit in May 2026, as a widening oil and gas trade gap overshadowed another month of strong non-oil exports, according to official data released by Bank Indonesia based on figures from Badan Pusat Statistik (BPS).
The reversal was largely driven by a surge in the oil and gas trade deficit, which widened to US$3.76 billion after oil and gas exports fell more sharply than imports, increasing pressure on Southeast Asia’s largest economy.
Despite the setback, Indonesia’s non-oil and gas trade balance remained firmly in surplus at US$2.15 billion, supported by exports worth US$22.44 billion. The strongest gains came from mineral fuels, nickel, and nickel-derived products, underscoring the country’s growing role as a global supplier of strategic minerals critical to the energy transition.
China, the United States, and India remained the top destinations for Indonesia’s non-oil exports, reflecting sustained international demand for the country’s commodity shipments despite an increasingly uncertain global economic outlook.
On a cumulative basis, Indonesia still posted a US$4.03 billion trade surplus during the January–May 2026 period, suggesting that the country’s external sector remains fundamentally resilient despite May’s temporary setback.
Bank Indonesia said it would continue strengthening policy coordination with the government and other authorities to safeguard external stability while supporting sustainable economic growth.
The latest figures highlight the contrasting dynamics of Indonesia’s trade performance. Rising dependence on imported energy continues to weigh on the external balance, while strong exports of nickel and other mineral commodities remain a vital engine of foreign exchange earnings, reinforcing Indonesia’s strategic position in global commodity and clean-energy supply chains. (AT Network)
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