Purbaya Confident Indonesia Will Meet 5.2% Economic Growth Target in 2025
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JAKARTA, Investortrust.id — Finance Minister Purbaya Yudhi Sadewa says Indonesia remains on track to meet its 2025 economic growth target of 5.2%, buoyed by resilient domestic demand and an ongoing trade surplus.
Speaking after the Financial System Stability Committee meeting at Bank Indonesia’s headquarters in Jakarta on Monday, Nov 3, 2025, Purbaya said that household consumption and investment stayed strong throughout the third quarter, supported by fiscal and monetary coordination.
“Household spending and investment remained well maintained, thanks to synergy between the government, monetary authorities, and the financial sector,” he said.
Purbaya highlighted that retail sales grew by 5.8% year-on-year in September 2025, signaling a sustained recovery in consumer confidence and purchasing power. “Consumer optimism toward the economy and the government’s performance continues to improve,” he added.
The minister also noted that manufacturing activity returned to an expansionary zone toward the end of the third quarter, with the Manufacturing Purchasing Managers’ Index rising from 50.4 in September to 51.2 in October.
“This was mainly supported by new orders, which increased for three consecutive months, in line with a trade balance surplus of US$ 14 billion in the third quarter, up 63.4% quarter-on-quarter,” Purbaya explained.
According to the Central Statistics Agency, Indonesia’s trade surplus in September reached US$ 4.34 billion, marking 65 consecutive months of surplus since May 2020.
“The September surplus was driven mainly by non-oil and gas exports, which amounted to US$ 5.99 billion,” BPS official Pudji said in Jakarta on Monday.
The main contributors to the non-oil and gas surplus were animal or vegetable fats and oils (HS 15), mineral fuels (HS 27), and iron and steel (HS 72). Meanwhile, the oil and gas trade balance recorded a US$ 1.64 billion deficit, primarily due to crude oil and refined fuel imports.