Indonesia Exports Fall for 1st Time in 4 Months

Exports from Indonesia dropped 3.1% year-on-year to USD 22.53 billion in March 2026, reversing a 1.01% increase in February. It marked the first decline in exports since last November, amid disruptions linked to Middle East conflicts. Non-oil and gas exports dropped 2.52% to USD 21.25 billion, weighed down by declines in animal and vegetable fats and oils (-27.02%), iron and steel (-1.12%), and electrical machinery and equipment, including parts (-9.80%). Meanwhile, oil and gas exports plunged 11.84% to USD 1.28 billion, due to sharp falls in crude oil (-34.36%) and oil products (-17.59%). By destination, non-oil and gas exports declined mainly to top trading partners: the US (-12.83%), India (-1.28%), and the EU (-17.63%), while exports to China surged 16.22%. For the first quarter of 2026, exports rose 0.34% to USD 66.85 billion.

Exports from Indonesia rose 1.01% year-on-year to USD 22.17 billion in February 2026, slowing from a 3.39% increase in January and coming in below market expectations of 3.2%. It marked the softest growth in exports since last November, when outbound shipments declined. Non-oil and gas exports grew 1.30% to USD 21.09 billion, supported by increases in animal and vegetable fats and oils (16.19%), iron and steel (3.31%), and electrical machinery and equipment, including parts (11.05%), despite the largest decline being recorded in mineral fuels (-15.65%). Meanwhile, oil and gas exports dropped 4.25% to USD 1.08 billion, dragged down by sharp falls in crude oil (-34.24%) and declines in natural gas exports (-6.81%). These declines more than offset an 18.05% surge in oil product shipments. By destination, non-oil and gas exports grew mainly to top trading partners: China (21.20%), Japan (4.66%), and the US (5.97%). For the first two months of 2026, exports grew 2.19% to USD 44.32 billion.

Exports from Indonesia rose 3.39% year-on-year to a nine-month low of USD 22.16 billion in January 2026, slowing from a ten-month high of 11.64% in December and missing market expectations of 11.07%. Non-oil and gas exports climbed 4.38% to USD 21.26 billion, supported by strong gains in animal and vegetable fats and oils (46.05%), nickel and articles thereof (42.04%), and electrical machinery and equipment, including parts (16.27%), despite the largest decline being recorded in mineral fuels (-11.85%). Meanwhile, oil and gas exports plunged 15.62% to USD 0.89 billion, dragged down by sharp drops in natural gas (-19.95%) and crude oil exports, which fell to zero. These declines more than offset a 5.76% increase in oil product shipments. By destination, non-oil and gas exports were mainly shipped to China (USD 5.27 billion), the United States (USD 2.51 billion), and India (USD 1.52 billion), with the three markets accounting for a combined 43.77% of Indonesia’s total exports.