Bank Indonesia (BI) revealed that Indonesia's trade balance deficit in May 2026 was mainly due to the widening of the deficit in the oil and gas (migas) sector.
However, the non-oil and gas trade balance still recorded a surplus so that it remains a support for the performance of national trade.
The Executive Director of the BI Communication Department, Ramdan Denny Prakoso, said based on data from the Central Statistics Agency (BPS), Indonesia's trade balance in May 2026 experienced a deficit of US$1.61 billion.
In addition, this achievement ended the trend of trade surplus which had lasted for 72 consecutive months.
"This condition is influenced by the increasing trade balance deficit in the energy sector amid a non-energy trade balance that still records a surplus," Denny said in an official statement, quoted on Friday, July 3.
Meanwhile, the trade balance deficit in oil and gas increased to US$3.76 billion in May 2026, driven by a larger decline in oil and gas exports compared to a decline in oil and gas imports.
Meanwhile, the non-oil and gas trade balance in May 2026 still recorded a surplus of US$2.15 billion, supported by the continued good performance of non-oil and gas exports which reached US$22.44 billion.
Ramdan explained that the positive non-oil and gas export performance was mainly supported by natural resource-based exports such as mineral fuels as well as nickel and its derivatives.
Based on the destination country, non-oil and gas exports to China, the United States, and India remain the main contributors to Indonesia's exports.
With this development, Indonesia's trade balance for the period January-May 2026 cumulatively recorded a surplus of US$4.03 billion.
In the future, he said, BI will continue to coordinate with the government and various authorities to maintain the stability of the external sector while supporting economic growth.
"In the future, Bank Indonesia will continue to strengthen policy synergies with the Government and other authorities to further strengthen external resilience and support sustainable national economic growth," he concluded.
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