Indonesia’s March 2026 Trade Surplus Reaches US$3.32 Billion Amid Falling Exports and Rising Imports

JAKARTA, Jakartaweekly.com — Indonesia’s Badan Pusat Statistik (BPS) reported that the country’s trade performance in March 2026 showed diverging year-on-year trends. Compared with March 2025, export values declined while imports increased. Nevertheless, Indonesia still posted a trade surplus of US$3.32 billion for the month.

Exports totaled US$22.53 billion in March 2026, down 3.10 percent year-on-year. Non-oil and gas exports reached US$21.25 billion, also declining by 2.52 percent compared to the same period last year.

Cumulatively, export performance in January–March 2026 recorded only modest growth. Total exports stood at US$66.85 billion, up slightly by 0.34 percent year-on-year. This increase was supported by non-oil and gas exports, which grew 0.98 percent to US$63.60 billion, despite a 10.58 percent contraction in oil and gas exports.

In terms of commodities, nickel and its downstream products were the main drivers of export growth, rising by US$1.23 billion or 60.60 percent. In contrast, mineral fuels recorded the steepest decline, falling by US$0.67 billion or 8.35 percent.

By destination, China remained the largest market for Indonesia’s non-oil and gas exports, valued at US$16.50 billion, followed by the United States at US$7.29 billion and India at US$4.50 billion. These three countries accounted for 44.48 percent of total non-oil and gas exports.

By sector, manufacturing exports grew 3.96 percent in the first quarter of 2026. Meanwhile, the agriculture, forestry, and fisheries sector saw a sharp contraction of 32.18 percent, while mining and other sectors declined by 11.17 percent.

On the import side, Indonesia’s imports reached US$19.21 billion in March 2026, up 1.51 percent year-on-year. The increase was recorded in both oil and gas and non-oil and gas imports.

Cumulatively, imports in January–March 2026 totaled US$61.30 billion, rising 10.05 percent compared to the same period last year. The growth was primarily driven by non-oil and gas imports, which increased 12.16 percent to US$52.97 billion.

By category of goods, the largest increase was seen in imports of machinery and mechanical equipment, which surged 22.10 percent. This reflects stronger demand for raw materials and capital goods to support domestic industrial activity.

By country of origin, China remained the largest supplier of Indonesia’s non-oil and gas imports, valued at US$22.02 billion or accounting for 41.56 percent of the total. It was followed by Australia at US$3.14 billion and Japan at US$2.90 billion.

Overall, Indonesia’s trade balance in January–March 2026 recorded a surplus of US$5.55 billion. This was supported by a non-oil and gas surplus of US$10.63 billion, despite a US$5.08 billion deficit in the oil and gas sector.

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