Indonesia Export Growth Hits Highest Since 2022

Indonesia's exports surged 21.98% year-on-year to a four-month high of USD 25.30 billion in April 2026, rebounding sharply from a 3.1% decline in March and far exceeding market forecasts of 8.8%, marking the strongest growth since August 2022. Non-oil and gas exports surged 23.36% to USD 24.15 billion, boosted by increases in animal and vegetable fats and oils (66.59%), mineral fuels (12.34%), iron and steel (8.10%), and electrical machinery and equipment, including parts (11.10%). Meanwhile, oil and gas exports fell 1.20% to USD 1.16 billion, due to sharp drops in crude oil (-34.54%) and natural gas (-13.28%). By destination, non-oil and gas exports increased mainly to top trading partners: the US (38.72%), China (29.56%), Japan(10.03%), and the ASEAN countries (13.26%). For the first four months of 2026, exports grew 5.48% to USD 92.15 billion.

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.