January 7, 2026 | 01:14 pm
TEMPO.CO, Jakarta - The Ministry of Trade announced Indonesia's trade balance in November 2025 with a monthly surplus of US$2.66 billion. "The achievement of the trade balance in November 2025 continues the trend of a surplus for 67 consecutive months since May 2020," said Minister of Trade Budi Santoso in a written statement on Tuesday, January 6, 2026.
Budi stated that the trade surplus in November 2025 was primarily due to the non-oil and gas sector. In November 2025, the non-oil and gas trade balance recorded a surplus of $4.64 billion, while the oil and gas trade balance recorded a deficit of $1.98 billion.
Budi stated that Indonesia's total exports from January to November of 2025 reached $256.56 billion, marking a 5.61 percent increase compared to the same period the previous year. The increase in exports was driven by a 7.07 percent growth in non-oil and gas exports, valued at US$244.75 billion.
Meanwhile, the three non-oil and gas commodities with the highest export growth in January-November 2025 were aluminum and its products (HS 76), which increased by 57.69 percent; various chemical products (HS 38) rose by 48.02 percent; and cocoa and its derivatives (HS 18) increased by 44.06 percent.
Sectorally, from January to November of 2025, the manufacturing industry was the largest contributor to exports, accounting for 80.27 percent. This was followed by mining and others at 12.65 percent, oil and gas at 4.60 percent, and agriculture at 2.48 percent.
Budi said that the highest export growth was in the agricultural sector, increasing by 24.63 percent. Similarly, the export of the manufacturing industry increased by 14 percent. However, mining and other sectors decreased by 24.24 percent, while oil and gas decreased by 17.64 percent.
Budi said that China, the United States, and India remained the main markets for non-oil and gas exports throughout January-November 2025. The total export value to these three countries was US$102.82 billion, accounting for 42.02 percent of national non-oil and gas exports.
Meanwhile, the Ministry of Trade noted that the export destination countries with the highest cumulative increase were Switzerland with a 220.13 percent increase, Thailand at 33.95 percent, and Singapore at 31.20 percent.
Based on regional countries, the Ministry of Trade recorded the highest export growth to Central Asia at 64.15 percent, followed by West Africa at 63.76 percent, and then Western Europe at 44.66 percent.
Budi said that the trade balance showed a surplus of US$38.54 billion from January to November 2025, based on export performance during that period. Budi stated that the trade surplus in January-November 2025 increased from the same period the previous year, which was US$29.24 billion.
Budi said the main trade surplus was driven by a non-oil and gas surplus of US$56.15 billion and an oil and gas deficit of US$17.61 billion.
The non-oil and gas surplus in January-November 2025 was largely due to trade with some main partner countries, namely the United States at US$19.21 billion, followed by India at US$12.16 billion, and the Philippines at US$7.72 billion.
Read: Indonesia's Exports Drop 6.6% in November 2025
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