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Indonesia's Trade Surplus Narrows to $89 Million in April; Exports Rebound Sharply

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Indonesia's Trade Surplus Narrows to $89 Million in April; Exports Rebound Sharply

Indonesia's trade surplus narrowed to $89.1 million in April, as strong growth in both exports and imports left the external balance positive, according to data released Tuesday by Statistics Indonesia.

The consensus estimate was for a surplus of $1.50 billion, according to Investing.com.

Exports rose 22% year over year to $25.3 billion in April, recovering from the 3.1% drop in March, and beating the consensus forecast for an 8.8% growth. Non-oil and gas exports increased 23.4% to $24.2 billion.

Imports climbed 22.5% from a year earlier to $25.2 billion, significantly faster than the 1.51% increase in March, and against the consensus estimate for a 3.25% rise. Non-oil and gas imports rose 14.1% to $20.6 billion.

The April surplus was supported by a $3.53 billion surplus in non-oil and gas trade, which offset a $3.44 billion deficit in the oil and gas sector.

During the first four months of 2026, exports increased 5.5% year over year to $92.2 billion, while non-oil and gas exports rose 6.3% to $87.7 billion.

Imports rose 13.4% from a year earlier to $86.5 billion in January-April, with non-oil and gas imports increasing 12.7% to $73.58 billion.

Higher palm oil exports boosted manufacturing shipments during the period, while lower coal exports weighed on mining and other products.

China remained Indonesia's largest non-oil and gas export market during January-April, accounting for $22.8 billion of shipments, followed by the United States at $10.2 billion and India at $6.14 billion.

The trade data comes as Indonesia presses ahead with plans to centralize exports of key commodities under a new state-backed entity, a move that has raised concerns among natural resource producers over potential regulatory uncertainty.

Coordinating Economic Minister Airlangga Hartarto said coal, palm oil, and ferroalloy producers will begin submitting export-related documents to PT Danantara Sumberdaya Indonesia from June 1.

The company, a unit of sovereign wealth fund Danantara, is expected to assume specific export functions as early as September and no later than Jan. 1, 2027.

Danantara Chief Operating Officer Dony Oskaria said the new entity would operate transparently and accountably, including in the benchmarking of commodity prices during the transition.

"We will ensure that this company will be run transparently and can be monitored by everyone in Indonesia," Oskaria said, according to Reuters.

Indonesia is the world's largest exporter of thermal coal, palm oil, and nickel, with exports of the three commodities exceeding $65 billion last year.

The government has said the initiative is intended to strengthen oversight and coordination of strategic commodity exports.

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