The Minister of Trade recently revealed that Indonesia's merchandise trade balance surplus has shrunk significantly, reaching its lowest level in 60 months. On one hand, declining exports are the main cause, due to the impact of U.S. tariff policies and the Ramadan holiday factor. The effects of Trump's tariff policies were also discussed at the ASEAN Economic Ministers' Meeting. These policies have not only reduced Indonesia's exports to the U.S. but also affected exports to other countries, with many exporters taking a wait-and-see approach. On the other hand, imports have surged, especially from China. However, he stated that there is no indication that this is due to Trump's policies causing China to re-export to Indonesia. China remains Indonesia's largest trading partner, and Indonesia's export value to China is relatively high. According to data from the Central Statistics Agency, Indonesia's trade surplus in April 2025 was only $160 million, with pressure stemming from a surge in non-oil and gas imports, which grew nearly 30% year-on-year. In April, total exports reached $20.74 billion, up 5.76% year-on-year; imports totaled $20.59 billion, soaring 21.84% year-on-year, of which non-oil and gas imports surged 29.86%, while oil and gas imports fell 15.57%. China is Indonesia's main source of non-oil and gas imports, accounting for 39.48%.
The Minister of Trade recently revealed that Indonesia's merchandise trade balance surplus has shrunk significantly, reaching its lowest level in 60 months. On one hand, declining exports are the main cause, due to the impact of U.S. tariff policies and the Ramadan holiday factor. The effects of Trump's tariff policies were also discussed at the ASEAN Economic Ministers' Meeting. These policies have not only reduced Indonesia's exports to the U.S. but also affected exports to other countries, with many exporters taking a wait-and-see approach. On the other hand, imports have surged, especially from China. However, he stated that there is no indication that this is due to Trump's policies causing China to re-export to Indonesia. China remains Indonesia's largest trading partner, and Indonesia's export value to China is relatively high. According to data from the Central Statistics Agency, Indonesia's trade surplus in April 2025 was only $160 million, with pressure stemming from a surge in non-oil and gas imports, which grew nearly 30% year-on-year. In April, total exports reached $20.74 billion, up 5.76% year-on-year; imports totaled $20.59 billion, soaring 21.84% year-on-year, of which non-oil and gas imports surged 29.86%, while oil and gas imports fell 15.57%. China is Indonesia's main source of non-oil and gas imports, accounting for 39.48%.