Indonesia Posts $3.12 Billion Trade Surplus in February, Extending Streak Since 2020

JAKARTA, investortrust.id – Indonesia’s exports reached $21.98 billion in February 2025, marking a year-on-year growth of 14.05%, driven by robust non-oil and gas sector performance, and resulting in a trade surplus of $3.12 billion—the latest in an uninterrupted streak of monthly surpluses ongoing since May 2020. Imports during the same period rose to $18.86 billion, reflecting sustained demand for capital goods and raw materials.

Head of Statistics Indonesia (BPS), Amalia Adininggar Widyasanti, shared these details at the agency’s headquarters in Jakarta on Monday, March 17, 2025. According to Amalia, February’s export value rose by 2.58% compared to January. Oil and gas exports totaled $1.14 billion, rising 8.25% from January, while non-oil exports increased 2.29%, reaching $20.84 billion.

Non-oil exports were primarily boosted by animal or vegetable fats, surging 37.04% and contributing 3.71 percentage points to monthly growth. Other supporting commodities included machinery and mechanical equipment, up significantly, adding 0.66 percentage points, along with precious metals, jewelry, and gems, which increased by 16.45%, contributing 0.66 percentage points.

"The increase in oil and gas exports was mainly driven by crude oil exports, contributing 0.56 percentage points to total export growth," Amalia said.

Imports in February rose by 3.81% month-on-month, with oil and gas imports up 8.25% to $2.86 billion, and non-oil imports growing 3.52% to reach $16 billion.

Amalia explained that import growth stemmed largely from increased demand for capital goods and supporting raw materials, while consumer goods saw a decline. Supporting raw materials accounted for the largest share at $13.94 billion, up 7.44% from the previous month, making up 73.9% of total imports.

Capital goods imports rose 4.13% month-over-month to $3.45 billion. In contrast, consumer goods imports dropped sharply by 10.61% to $1.47 billion, notably due to significant reductions in imports of frozen boneless meat, down $43.5 million, and rice, decreasing by $37 million compared to the previous month.

The BPS report also highlighted external factors influencing Indonesia’s trade performance. Global commodity prices generally increased on both a monthly and annual basis, though energy commodities experienced a contraction. Additionally, February 2025 saw Purchasing Managers' Index (PMI) figures from key trading partner nations remaining in expansion territory, except for Japan, where manufacturing activity contracted.

These indicators underline the mixed global economic sentiments potentially influencing future trade dynamics. However, Indonesia’s sustained trade surplus signals resilience amid international market volatility.