Indonesia recorded its first trade deficit since the pandemic in May 2026, primarily due to a record shortfall in its oil and gas sector, according to FX Street. The country’s trade data revealed a notable shift as exports failed to keep pace with imports during this period.
Societe Generale’s analyst Kunal Kundu also highlighted the significance of the May 2026 figures, emphasizing the impact of the oil and gas deficit on Indonesia’s overall trade balance. This marks a critical moment for the Southeast Asian economy, which had maintained trade surpluses throughout the pandemic recovery phase.
For Japanese investors and traders, Indonesia’s trade dynamics are important as they can influence regional commodity markets and FX volatility, particularly in emerging Asian markets linked to energy exports.