Indonesia Posts $4.9 Billion Trade Surplus in May

JAKARTA (Reuters) – Indonesia recorded a trade surplus of $4.9 billion in May, based on preliminary customs data, marking its largest monthly surplus in over two years.

Exports totaled $25.3 billion, while imports reached $20.4 billion, according to Finance Minister Sri Mulyani Indrawati at a press conference. Final data will be released by Statistics Indonesia on July 1. If unchanged, this surplus would be the highest since February 2023, following an April surplus of $160 million.

Despite positive trade figures, trade tensions and slowing global growth are expected to impact both exports and economic growth in Southeast Asia’s largest economy. Strong growth was demonstrated in May exports of agricultural products and manufactured goods, although a significant decline in mining product shipments adversely affected government revenues.

Additionally, Indonesia experienced a budget deficit of 21 trillion rupiah (approximately $1.29 billion) in the first five months of 2025, equating to 0.09% of GDP. Revenues from January to May totaled 995.3 trillion rupiah, while overall spending reached 1,016.3 trillion rupiah. This is a shift from last year, where the deficit stood at 0.1% of GDP with revenues of 1,123.5 trillion rupiah and spending of 1,145.3 trillion rupiah.

(Exchange rate: $1 = 16,275 rupiah)