Indonesia Records First Trade Deficit in Six Years, Worst Since 2019

Indonesia’s trade balance has recorded a deficit for the first time in six years. The Central Statistics Agency (BPS) announced the country’s trade balance experienced a US$1.61 billion deficit in May 2026. The deficit occurred as exports were recorded at US$23.20 billion, while imports reached US$24.81 billion. This is the first deficit since April 2020, when the trade balance was also in deficit by US$0.38 billion. The latest figure thus breaks Indonesia’s 72-month trade surplus streak. The deficit is also the deepest since April 2019. Imports increased 22.16% compared to May 2025. BPS recorded oil and gas imports at US$4.51 billion, surging 70.78% year-on-year. Non-oil and gas imports reached US$20.30 billion, an increase of 14.69%.