Commodity Prices Lift Exports, Trade Balance Stays Surplus

RRI.CO.ID, Jakarta - Indonesia’s trade balance recorded another surplus in April 2026, reaching USD 0.09 billion. The figure shows that national trade performance remains positive, despite continued pressure from the oil and gas sector.

Indonesia's Minister of Trade, Budi Santoso, said the April 2026 surplus was mainly supported by the non-oil and gas sector, which posted a surplus of USD 3.53 billion. Meanwhile, the oil and gas sector recorded a deficit of USD 3.44 billion. With this result, Indonesia maintained its trade surplus trend for 72 consecutive months since May 2020.

“Cumulatively, the trade balance from January to April 2026 recorded a surplus of USD 5.64 billion. The surplus was mainly driven by a non-oil and gas surplus of USD 14.16 billion and an oil and gas deficit of USD 8.52 billion. However, the January—April 2026 surplus was lower than the surplus recorded in the same period in 2025, which reached USD 11.07 billion,” he said, as quoted from an official statement on Wednesday, June 3, 2026.

From January to April 2026, the non-oil and gas surplus was mainly contributed by animal or vegetable fats and oils, valued at USD 11.71 billion. Other commodities that also supported the surplus were mineral fuels at USD 8.34 billion and iron and steel at USD 5.71 billion.

In terms of trading partners, the United States was Indonesia’s largest contributor to the non-oil and gas surplus, with a value of USD 6.81 billion. It was followed by India with USD 4.44 billion and the Philippines with USD 2.77 billion. Meanwhile, the deepest non-oil and gas deficits were recorded with China, Australia, and Argentina.

“The Ministry of Trade continues to work in synergy to monitor and determine anticipatory measures to maintain trade stability, strengthen export competitiveness, and support sustainable national economic growth,” Minister Santoso conveyed.

On the export side, Indonesia’s total export value in April 2026 reached USD 25.30 billion. The figure increased by 12.32 percent compared with March 2026 and rose by 21.98 percent compared with April 2025. The increase was mainly driven by non-oil and gas exports, which grew by 13.66 percent month-to-month, although oil and gas exports declined by 9.81 percent.

Several non-oil and gas commodities recorded strong growth in April 2026. Coffee, tea, and spices rose by 54.44 percent; tobacco and cigarettes by 43.49 percent; wood and articles of wood by 40.91 percent; animal or vegetable fats and oils by 38.71 percent; and machinery and mechanical appliances by 37.26 percent.

“Cumulatively, from January to April 2026, Indonesia’s total exports reached USD 92.15 billion, an increase of 5.48 percent compared with the same period last year (cumulative to cumulative/CtC). This performance was supported by non-oil and gas exports, which grew by 6.28 percent to USD 87.74 billion, while oil and gas exports contracted by 8.30 percent to USD 4.41 billion. This positive trend shows that Indonesia’s trade performance remains well maintained amid global economic challenges,” Minister Santoso said.

The manufacturing industry became the main driver of Indonesia’s exports from January to April 2026, growing by 9.78 percent. The increase was mainly driven by exports of nickel, aluminum, organic chemicals, copper, as well as tin and their derivative products.

“The export growth of these commodities was driven by strong global demand, followed by rising prices in the international market. This condition has had a positive impact on the export performance of Indonesia’s manufacturing industry,” the Minister said.

Meanwhile, Indonesia’s import value in April 2026 also increased to USD 25.21 billion. The rise in imports occurred in consumer goods, raw and auxiliary materials, and capital goods. Despite the increase in imports, the April 2026 trade balance surplus was maintained thanks to the strength of the non-oil and gas sector and the rise in export value driven by global demand and higher prices of several commodities.