PALMOILMAGAZINE, JAKARTA — Indonesia’s trade performance held firm in October 2025, with the country posting a trade surplus of US$2.39 billion. According to Trade Minister Budi Santoso, this marks the 66th consecutive monthly surplus since May 2020, reinforcing Indonesia’s resilience amid global economic volatility.
From January to October 2025, the cumulative trade surplus reached US$35.88 billion, supported by a robust non-oil and gas (nonmigas) balance.
“October’s surplus of US$2.39 billion came from a nonmigas surplus of US$4.31 billion and a migas deficit of US$1.92 billion,” Budi stated in an official announcement received by Palmoilmagazine.com on Wednesday (3/12/2025). He added that the strong nonmigas contribution continued to anchor the year-to-date surplus.
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Over the ten-month period, Indonesia recorded a nonmigas surplus of US$51.51 billion, offsetting a migas deficit of US$15.63 billion. This performance surpassed the same period in 2024, when the total surplus stood at US$24.89 billion.
The United States (US$17.40 billion), India (US$11.37 billion), and the Philippines (US$7.09 billion) remained Indonesia’s top nonmigas trading partners, underscoring the broadening of export markets amid shifting global demand.
Exports Supported by Higher Value-Added Products
Indonesia’s exports reached US$24.24 billion in October 2025, a slight decline of 1.79 percent month-on-month. The pullback was mainly driven by a 10.14 percent drop in migas exports and a 1.44 percent decline in nonmigas shipments.
Despite the monthly dip, cumulative exports for January–October 2025 totaled US$234.04 billion, up 6.96 percent from the same period last year. Nonmigas exports grew even stronger, increasing 8.42 percent to US$223.12 billion.
Three nonmigas export categories recorded the highest growth:
- Aluminum and aluminum products (HS 76): +68.45%
- Cocoa and cocoa preparations (HS 18): +53.15%
- Various chemical products (HS 38): +51.78%
These figures highlight Indonesia’s strengthening presence in global markets for higher value-added manufactured goods.
Manufacturing Dominates; Agriculture Grows Rapidly
Indonesia’s export structure continues to rely heavily on manufacturing, which accounted for 80.25% of total shipments from January to October 2025. Other contributors included mining (12.59%), oil and gas (4.67%), and agriculture (2.49%).
Agriculture posted the fastest growth at 28.56%, followed by manufacturing at 15.75%. Meanwhile, mining exports plunged 24.43 percent due to weakening global coal prices, and migas exports dropped 16.11 percent.
“The decline in coal prices in the international market is the main factor behind lower mining exports,” Budi noted.
China, the United States, and India remained the top destinations for Indonesia’s nonmigas exports, with combined shipments reaching US$93.33 billion, or 41.84 percent of the national total.
With a sustained surplus and expanding export base, the government sees Indonesia’s trade fundamentals as solid and stable. Strengthening nonmigas performance is expected to continue supporting foreign reserves and maintaining exchange rate stability amid global uncertainty. (P2)
