Indonesia expects export growth to weather rising oil prices: Minister

Jakarta (ANTARA) - Trade Minister Budi Santoso expressed optimism that Indonesia's positive export trajectory will remain resilient against rising global crude oil prices, stressing the need to expand non-oil and gas commodity surpluses to offset energy import costs.

Speaking in Jakarta on Tuesday, Budi said national exports maintained solid growth during the first seven months of the year despite volatility in global oil prices.

"Oil prices did rise again recently. Our hope—and what we are working towards—is for our exports to keep increasing; we must ensure that the oil deficit does not erode the surplus generated by non-oil and gas commodities," Budi said.

Statistics Indonesia (BPS) data showed that Indonesia's cumulative export value from January to July 2026 reached US$167.03 billion, up 4.43 percent from the same period in 2025. Non-oil and gas exports grew 5.21 percent year on year during the seven-month period to US$160.01 billion.

In July 2026 alone, total exports reached US$26.22 billion, up 6.05 percent year on year, driven by a 6.84-percent increase in non-oil and gas exports to US$25.43 billion.

To maintain export momentum, the ministry is preparing to host Trade Expo Indonesia (TEI) 2026 from October 14 to 18. Budi said international buyer interest remains high, with more than 4,000 buyers already confirming their attendance.

Global crude benchmark Brent for November delivery traded higher at US$100.57 per barrel on Tuesday, while US West Texas Intermediate (WTI) crude for October delivery rose to US$95.80 per barrel amid geopolitical tensions surrounding potential US-Iran discussions at the UN General Assembly.

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Translator: Arnidhya Nur Zhafira, Yashinta Difa
Editor: M Razi Rahman
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