Indonesia's Trade Surplus Soars 2,600% in May 2025

The Central Statistics Agency (BPS) reported that Indonesia recorded a trade surplus of US$4.30 billion in May 2025.

This surplus surged by 2,608% month-to-month (mtm) from the previous month's US$158.8 million. Year-on-year (yoy), it grew by 46.46% compared to May of the previous year.

"Indonesia's trade balance has thus recorded a surplus for 61 consecutive months, since May 2020," said Pudji Ismartini, Deputy for Distribution and Service Statistics at BPS, in a press release on Monday (1/7/2025).

In May 2025, Indonesia's trade balance was supported by the non-oil and gas sector, which had a surplus of US$5.83 billion. Contributing commodities included mineral fuels (HS 27); animal or vegetable fats and oils (HS 15); and iron and steel (HS 72).

However, this non-oil and gas surplus was reduced by an oil and gas trade deficit of US$1.53 billion. This deficit was contributed by oil and crude oil commodities.

Cumulatively, from January to May 2025, the oil and gas sector experienced a deficit of US$7.72 billion, while the non-oil and gas sector had a surplus of US$23.10 billion. Thus, in these five months, Indonesia's trade balance had a surplus of US$15.38 billion.

Based on trading partners, Indonesia's trade surplus from January to May 2025 came mostly from transactions with the United States, amounting to US$7.08 billion. India contributed a surplus of US$5.30 billion, and the Philippines US$1.69 billion.

On the other hand, the largest trade deficit originated from transactions with China, valued at US$8.15 billion. This was followed by Singapore, contributing a deficit of US$2.79 million, and Australia with US$2.11 million.