Indonesia Records 60th Consecutive Trade Surplus in April at $160 Million

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JAKARTA, Investortrust.id – Indonesia recorded its 60th consecutive monthly trade surplus in April 2025, with a surplus of $160 million. While the figure fell from March’s level, it reflects continued strength in non-oil and gas exports, according to the Central Statistics Agency (BPS).

Exports in April reached $20.74 billion, up 5.76% year-on-year, while imports surged 21.84% to $20.59 billion. “Indonesia posted a $160 million trade surplus in April 2025, although the figure was lower than March,” said BPS Deputy for Distribution and Services Statistics Pudji Ismartini at a press briefing in Jakarta on Monday, June 2.

Non-Oil and Gas Exports Drive Surplus

The April surplus was primarily driven by non-oil and gas (nonmigas) exports, which generated a $1.51 billion surplus. Key contributors included mineral fuels such as coal, vegetable and animal oils—mainly palm oil—and iron and steel.

However, the oil and gas (migas) segment continued to post a deficit of $1.35 billion, with imported refined petroleum products and crude oil making up the bulk of the shortfall.

Non-Oil Imports Surge Nearly 30%

Indonesia's total imports in April stood at $20.59 billion. Although oil and gas imports declined 15.57% year-on-year to $2.52 billion, non-oil imports surged by 29.86% to $18.07 billion.

Growth occurred across all categories: consumer goods imports rose 18.46% to $1.7 billion, raw materials and intermediate goods increased 18.93% to $14.97 billion, and apital goods imports jumped 36.28% to $3.91 billion.

January–April: $11.07 Billion Cumulative Surplus

For the first four months of 2025, Indonesia booked a cumulative trade surplus of $11.07 billion. This was supported by a $17.26 billion non-oil surplus, offset by a $6.19 billion oil and gas trade deficit.

The United States was Indonesia’s top surplus-generating trade partner during this period, contributing $5.44 billion. India followed with $3.98 billion, and the Philippines with $2.92 billion. Meanwhile, China accounted for the deepest trade deficit at $6.28 billion, followed by Singapore ($2.41 billion) and Australia ($1.75 billion).

Exports Grow on Strong Manufacturing and Agriculture

Indonesia’s exports from January to April totaled $87.36 billion, up 6.65% compared to the same period in 2024. The increase was driven by non-oil exports, which rose 7.68% to $82.56 billion, despite a decline in oil and gas exports by 8.43% to $4.81 billion.

The manufacturing sector was the primary growth driver, with cumulative exports rising 16.08% to $68.84 billion. This included shipments of palm oil, base metals, organic chemicals derived from agriculture, nickel, and semiconductors.

Agricultural, forestry, and fisheries exports also jumped 46.55% to $2.17 billion. In contrast, mining exports declined 27.3% to $11.55 billion.

Non-oil exports to China rose 7% to $18.87 billion, while exports to the US, ASEAN, and the EU also increased. However, shipments to India declined.

Imports Also Rise, Led by Raw Materials and Capital Goods

Total imports in January–April rose 6.27% to $76.29 billion. Non-oil imports accounted for $65.29 billion, an increase of 9.18%. In contrast, oil and gas imports dropped 8.27% to $11 billion.

Non-oil import growth was driven by raw materials and intermediates up 5.32% to $55.35 billion and capital goods up 16.8% to $14.38 billion. However, consumer goods imports fell 5.26% to $6.56 billion.

China remained Indonesia’s top source of imports, followed by Japan and ASEAN (excluding Thailand). Imports from Thailand and the EU declined during the same period.