Trade Minister Optimistic Indonesia Will Continue to Record Trade Surplus
Jakarta (ANTARA) - The Minister of Trade, Budi Santoso, is optimistic that Indonesia’s trade balance will return to a sustained surplus after recording a surplus of US$0.12 billion in July 2026.
“Our hope is that it continues to remain in surplus moving forward,” said Budi when met at the Ministry of Trade Office in Jakarta on Wednesday.
Budi noted that the July 2026 surplus represents a positive development after Indonesia’s trade balance experienced deficits for two consecutive months in May and June 2026.
Cumulatively, Budi stated that Indonesia’s export performance from January to July 2026 has shown a growth of 4.43 per cent.
He explained that one of the factors previously exerting pressure on the trade balance was the high global oil prices during March-April 2026, which had risen above US$100 per barrel. Budi expressed hope that oil prices could remain more controlled to avoid significant pressure on the trade balance, given the substantial domestic demand for oil.
On the other hand, he emphasised that the trade surplus in the non-oil and gas sector continues to persist. Pressure on the trade balance primarily stems from the deficit in the oil and gas sector.
“Our non-oil surplus is indeed continuing. It is because of the oil and gas deficit, but the non-oil surplus remains steady,” said Budi.
Consequently, Budi asserted that the government will not rely solely on oil price conditions to maintain the trade surplus, but will also continue to drive export increases. He emphasised that the government’s target is not merely to keep the trade balance in surplus until the end of 2026, but to maintain that surplus sustainably.
“That is our target; we want it to last beyond the end of the year, indefinitely,” he added.
Statistics Indonesia (BPS) recorded that in July 2026, Indonesia’s trade balance achieved a surplus of US$0.12 billion, with exports at US$26.22 billion (up 6.05 per cent year-on-year) and imports at US_26.09 billion (up 27.02 per cent year-on-year).
Indonesia’s goods trade balance also recorded a surplus of US$3.70 billion for the period of January-July 2026. Cumulative exports during this period were recorded at US$167.03 billion, an increase of 4.43 per cent from the US$159.95 billion recorded previously.
By sector, the manufacturing industry contributed US$137.26 billion to the total cumulative exports, followed by mining and others at US$19.60 billion, and the agriculture, forestry, and fisheries sector at US$3.15 billion.
Meanwhile, imports from January to July 2026 reached US$163.33 billion, an increase of 19.94 per cent year-on-year. Usage was dominated by raw materials/auxiliary goods at US$116.70 billion, followed by capital goods at US$32.46 billion, and consumer goods at US$14.16 billion.