Indonesia the Second Most Resilient Country to Global Energy Shocks, Report Says

RRI.CO.ID, New York City – A report by U.S. based on firm J.P. Morgan Asset Management ranks Indonesia as the second most resilient country to global energy shocks. The Indonesian government has affirmed this as evidence that its current energy resilience policies are working.

The report, titled “Eye on the Market”, released on Tuesday, April 21, 2026, is based on an analysis of 52 countries representing around 82% of global energy consumption. The calculation is based on the total domestic production of gas, coal, nuclear power, and renewable energy, forming the percentage of energy used nationally.

Indonesia’s domestic energy production meets 77% of its national energy needs. This places Indonesia just slightly below South Africa at 79%, and above China and the United States at 76% and 70%, respectively.

Indonesia's energy resilience is primarily supported by the significant contribution of domestic coal production, which meets approximately 48% of national final energy consumption, domestic natural gas 22%, and renewable energy 7%. In the report, J.P. Morgan explicitly groups Indonesia, along with China, India, the Philippines, South Africa, and Vietnam, as a group of countries that have benefited substantially from domestic coal production during this period.

Indonesia is also considered to have very low direct exposure to the global energy distribution channels currently under the spotlight. Oil and gas imports through the Strait of Hormuz account for only about 1% of total national primary energy consumption, far below East Asian countries such as South Korea (33%), Thailand (27%), and Singapore (26%).

Responding to the report, Coordinating Minister for Economic Affairs, Airlangga Hartarto, said this recognition reflects collective efforts to maintain national energy resilience. He said it is not merely an appreciation of the current situation, but rather a validation of the government's long-term policy choices in maintaining a balance between domestic energy sources use and accelerating the energy transition.

"Amidst global energy price volatility, this position provides more controlled fiscal space for the 2026 State Budget and helps protect public purchasing power and the continuity of business activities," Airlangga said in a statement on Thursday, 24 April 2026.

Furthermore, Coordinating Minister Airlangga emphasized that the achievement "does not make Indonesia complacent" about the ongoing risks. The government continues to strengthen several policy directions. This includes optimizing domestic oil and gas production, strengthening non-tax revenues, developing new and renewable energy, expanding the use of electric vehicles, and diversifying energy supply sources and logistics channels.

"Going forward, the Coordinating Ministry for Economic Affairs will continue to coordinate energy and fiscal policies in an integrated manner to maintain this resilience momentum and ensure that its benefits are directly felt by the public and businesses," Airlangga said.