Indonesia's Trade Balance Records US$1.6 Billion Deficit in May 2026, Ending 72-Month Surplus Streak

The Central Statistics Agency (BPS) recorded a goods trade balance deficit of US$1.61 billion in May 2026. This marks the first time the trade balance has recorded a deficit after experiencing a surplus for 72 consecutive months.

“The deficit in May 2026 was caused mainly by oil and gas commodities,” said BPS Deputy for Distribution and Services Statistics Ateng Hartono during a press conference on Wednesday, 1 July 2026. He stated that the deficit in May reached US$3.76 billion, with the main contributing commodities being oil products and crude oil.

In May 2026, the export value was recorded at US$23.2 billion, a decrease of 5.73 percent compared to the same period the previous year. According to BPS data, the value of oil and gas exports was recorded at US$0.76 billion, down 31.76 percent year-on-year. Meanwhile, non-oil and gas exports reached US$22.45 billion, a decrease of 4.5 percent year-on-year.

Meanwhile, the total import value in May reached US$24.81 billion, an increase of 22.16 percent compared to May 2025. Oil and gas imports in May were recorded at US$4.51 billion, an increase of 70.78 percent year-on-year. Meanwhile, non-oil and gas imports reached US$20.30 billion, an increase of 14.89 percent year-on-year.

Cumulatively, the trade balance from January to May recorded a surplus of US$4.03 billion. This surplus was supported by non-oil and gas commodities, which amounted to US$16.31 billion. “Meanwhile, oil and gas commodities still experienced a deficit of US$12.28 billion,” said Ateng.