Reasonably good numbers, amid global crises

INDONESIA - Report 13 Apr 2026 by Cyrillus Harinowo

Despite global crises, especially war in the Middle East, the Indonesian economy still showed some decent numbers, in particular in the external balance and on the inflation front.

The impacts of global economic trends on the domestic real economy could start being felt in the coming months. But so far casual observation still shows some resilience. As of this writing, my flight from Jakarta to Yogyakarta in Central Java is fully packed, even in business class.

The Central Board of Statistics report on the Indonesian trade balance of February 2026 showed a rise in the trade surplus. The trade surplus was only $954.3 million in January 2026, but in February, it was $1,273.3 million. The increase resulted from a February rise in exports, and a decline in imports. Exports rose slightly, by 0.05%, to $22,166.8 million, while imports fell by 1.45%, to $20,893.5 million.

The Board of Statistics also reported that March inflation reached 0.41%, which led y/y inflation to 3.48%, still within the Central Bank’s target band. The Central Bank decided to keep its benchmark interest rate at 4.75%.

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