Indonesia Import Growth Beats Forecasts

Indonesia’s imports surged 22.16% yoy to USD 24.81 billion in May 2026, exceeding expectations of 19.5%, but easing slightly from a 22.49% rise in April, which was the fastest import growth since August 2022. The strong import growth was driven by government efforts to support domestic demand and higher oil prices. Oil and gas imports jumped 70.78% to USD 4.51 billion, driven by higher imports of oil products (99.49%). Meanwhile, non-oil and gas imports grew 14.89% year-on-year to USD 20.30 billion, mainly driven by higher purchases of machinery and mechanical appliances and parts thereof (13.44%), plastics and plastic products (39.78%), as well as iron and steel (25.86%). Among trading partners, non-oil and gas imports were primarily sourced from China, with imports surging 15.42%, followed by the US (2.61%), the EU (85.62%), and ASEAN (0.99%). By contrast, imports from Japan plunged 19.54%. For the first five months of the year, imports increased 15.24% to USD 111.33 billion

Indonesia’s imports soared 22.49% yoy to a record high of USD 25.21 billion in April 2026, accelerating sharply from a 1.51% gain in March and far exceeding estimates of 3.25%. It marked the fastest growth in imports since August 2022, amid government efforts to support domestic demand and rising oil prices. Non-oil and gas imports grew 14.11% yoy to USD 20.62 billion, mainly driven by higher purchases of machinery and mechanical appliances and parts thereof (7.18%), as well as electrical machinery and equipment and parts (21.85%). Meanwhile, oil and gas imports surged 82.52% to USD 4.60 billion, after a 1.34% rise in March, driven by higher imports of crude oil (67.49%) and oil products (87.76%). Among trading partners, non-oil and gas imports were primarily sourced from the US, surging 47.27%, followed by China (23.94%), the EU (23.44%), and ASEAN (8.45%). By contrast, imports from Japan fell 11.10%. For the first four months of the year, imports rose 13.40% to USD 86.51 billion.

Indonesia’s imports increased 1.51% year-on-year to USD 19.21 billion in March 2026, slowing sharply from a 10.85% surge in February. It marked the softest growth in imports since last November. Non-oil and gas imports rose 1.54% to USD 16.04 billion, mainly driven by higher purchases of machinery and mechanical appliances and parts thereof (4.61%) and electrical machinery and equipment and parts (4.55%). Meanwhile, oil and gas imports grew 1.34% year-on-year to USD 3.17 billion, rebounding from a 30.36% plunge in February, driven by higher imports of crude oil (1.69%) and oil products (1.21%). Among trading partners, non-oil and gas imports were primarily sourced from the US, soaring 16.84%, followed by EU countries (9.88%), while those from China edged up 0.35%. By contrast, imports from Japan (-26.35%) and ASEAN countries (-14.44%) declined. For the first quarter of the year, imports rose 10.05% to USD 61.30 billion.