Back to business as usual

INDONESIA - Report 13 Oct 2026 by Cyrillus Harinowo

The Indonesian economy has started to move back to business as usual. The uncertainty that prevailed during the first two years of the current presidency has slowly dissipated, creating the climate for business expansion once again.

The Standard & Poor's PMI for Indonesia reported a significant increase, to a level of 52.4 in September 2026 from 49.8 in August. A level above 50 indicates an expansionary situation.

The Central Board of Statistics released the trade balance data for the month of August. Exports increased by 1.51% M/M to reach $26,612.2 million in August, with non-oil exports up by 0.75% to $25,620 million. At the same time, imports fell 11.63% M/M to $23,060 million, resulting in a trade surplus of $3,552.2 million, sharply higher than in July.

The Central Board of Statistics also released the inflation report, which showed that inflation has been largely stable. For September, inflation was reported at 0.30%. With that performance, Y/Y inflation stood at 3.28%, a level above that of the previous month and in the upper part of the target corridor of the Central Bank. At its meeting of September 22-23, 2026, Bank Indonesia decided to keep the interest rate constant at 5.75%.

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