Indonesia's Oil and Gas Trade Balance has been in deficit since 2012.

Indonesia's oil and gas (migas) trade balance has been in deficit since 2012. Data from the Central Statistics Agency (BPS) recorded oil and gas imports reaching US$42.56 billion, while exports amounted to only US$36.98 billion, resulting in a US$5.59 billion trade deficit.

The faster decline in crude oil and oil product exports compared to imports has widened the volume deficit in oil trade. Consequently, the oil trade balance deficit has grown larger. However, the still-high volume of gas exports prevented the oil and gas trade balance from experiencing an even deeper deficit.

Falling oil lifting, coupled with rising domestic demand for fuel (BBM), has resulted in Indonesia's oil and gas trade balance remaining in deficit from 2012 to 2018. The deficit peaked at US$13.44 billion in 2014, coinciding with soaring oil prices exceeding US$100/barrel. However, in 2015, the oil and gas trade deficit shrank after President Joko Widodo raised the price of subsidized fuel at the beginning of his administration, as it was deemed inefficiently targeted.