InfoSAWIT, JAKARTA — Indonesia recorded a trade surplus of US$2.66 billion in November 2025, exceeding the US$2.39 billion surplus posted in October and extending the country’s surplus streak to 67 consecutive months since May 2020.
Trade Minister Budi Santoso said the November surplus was largely supported by strong performance in the non-oil and gas (non-migas) sector. During the period, the non-migas trade balance posted a surplus of US$4.64 billion, while the oil and gas balance recorded a deficit of US$1.98 billion.
“The November 2025 trade balance continues Indonesia’s surplus trend for 67 straight months since May 2020. The non-oil and gas sector recorded a surplus of US$4.64 billion, while oil and gas posted a deficit of US$1.98 billion,” Santoso said in an official statement quoted by InfoSAWIT.
Cumulatively, Indonesia’s trade balance from January to November 2025 posted a surplus of US$38.54 billion, a significant increase from US$29.24 billion in the same period last year. The surplus was driven by a US$56.15 billion surplus in non-migas trade, despite being offset by a US$17.61 billion deficit in oil and gas.
The largest non-migas trade surpluses were recorded with the United States at US$19.21 billion, followed by India at US$12.16 billion and the Philippines at US$7.72 billion.
Indonesia’s Exports Strengthen in January–November 2025 Despite Monthly Decline
In November 2025, Indonesia’s exports totaled US$22.52 billion, down 7.08 percent month-on-month (MoM), driven by a 7.30 percent decline in non-migas exports and a 1.25 percent drop in oil and gas exports.
However, cumulatively from January to November 2025, Indonesia’s total exports reached US$256.56 billion, growing 5.61 percent year-on-year. This growth was supported by a 7.07 percent increase in non-migas exports to US$244.75 billion.
Santoso noted that the fastest-growing non-migas export commodities during the period were aluminum and aluminum products (HS 76), which surged 57.69 percent, followed by chemical products (HS 38) up 48.02 percent, and cocoa and cocoa-based products (HS 18), which rose 44.06 percent annually.
Manufactured goods continued to dominate Indonesia’s export structure, accounting for 80.27 percent of total exports, followed by mining and other sectors at 12.65 percent, oil and gas at 4.60 percent, and agriculture at 2.48 percent.
China, the United States, and India remained Indonesia’s top non-migas export destinations, with combined exports reaching US$102.82 billion, representing 42.02 percent of total non-migas exports. (T2)
