Jakarta. Indonesia’s trade surplus skyrocketed to $3.55 billion in August, its statistics bureau announced Thursday, soothing deficit fears.

Southeast Asia’s biggest economy plunged to its first-ever deficit in six years in May. It eventually bounced back with a slim $120 million surplus about two months later.

Latest data by the Central Statistics Agency (BPS) showed that Jakarta’s trade balance was able to stay in the black, which it ascribed to the $6.09 billion non-oil and gas surplus. However, oil commerce saw a $2.54 billion shortfall, shrinking from the $2.98 billion deficit seen in July.

In August alone, overall exports rose 6.72% year-on-year (yoy) to $26.61 billion as markets’ appetite for Indonesian palm oil remained large. However, Indonesia’s oil and gas commodity shipments fell to just $990 million, down by 5.10% yoy. Overall imports soared 19.09% yoy to $23.06 billion, with Chinese goods making up the lion’s share as usual.

“Our goods trade surplus stood at $7.25 billion in the first 8 months of 2026,” BPS deputy Ateng Hartono told a press conference.

This marked a free-fall from the $29.35 billion positive trade balance seen last year.

But all in all, Jakarta had exceeded analysts’ mixed expectations. Bank Permata analysts previously expected a $934.31 million surplus for August. Bank Danamon lead economist Irman Faiz was more skeptical, forecasting a $900 million deficit, according to media reports. 

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