Indonesia Maintains Trade Surplus as Palm Oil and Manufacturing Drive Exports

Dilansir from the Ministry of Trade, on Monday (April 6, 2026), the country posted a trade surplus of US$1.27 billion, up from US$0.95 billion in January.

The surplus was largely supported by the non-oil and gas sector, which recorded a surplus of US$2.19 billion, offsetting a deficit of US$0.92 billion in the oil and gas segment.

Trade Minister Budi Santoso noted that this marks Indonesia’s 70th consecutive month of trade surplus since May 2020, reflecting strong economic fundamentals.

Palm Oil and Downstream Industry Lead Export Growth

Indonesia’s exports reached US$22.17 billion in February 2026, growing modestly on a monthly basis and by 1.01% year-on-year.

Non-oil and gas exports increased by 1.30%, while oil and gas exports declined by 4.25%. Cumulatively, exports for January–February 2026 stood at US$44.32 billion.

The export structure remains dominated by manufactured goods, contributing 83.61% of total exports, underscoring the growing role of downstream industries, including palm oil.

Notably, exports of animal and vegetable fats—primarily palm oil—rose by 28.79%, despite a 4.27% decline in global CPO prices. Export volumes surged by 34.46%, indicating strong global demand.

Expanding Markets Amid Global Dynamics

The United States emerged as Indonesia’s largest surplus contributor, followed by India and the Philippines, while China remained the largest source of deficit.

Meanwhile, export growth was particularly strong in non-traditional markets such as the United Arab Emirates, Spain, and Egypt, as well as Central Asia, which recorded growth exceeding 140%.

Palm oil continues to play a strategic role in Indonesia’s export performance, demonstrating resilience in both volume and competitiveness despite global price fluctuations.