Key insights and market outlook
Indonesia recorded its largest trade surplus with the United States despite facing trade challenges, including a 19% reciprocal tariff imposed by the US. Trade Minister Budi Santoso revealed this during the Indonesian Chamber of Commerce (Kadin) National Leadership Meeting in Jakarta. The surplus marks a shift, with Indonesia surpassing India to become the US's largest trade surplus partner.
Indonesia has achieved a significant milestone in its trade relations with the United States, recording the largest trade surplus despite ongoing trade tensions. Trade Minister Budi Santoso revealed this achievement during the Indonesian Chamber of Commerce (Kadin) National Leadership Meeting held at Park Hyatt Hotel, Jakarta, on December 1, 2025.
The surplus comes at a time when Indonesia was facing trade challenges with the US, particularly the imposition of a 19% reciprocal tariff by the Trump administration. Despite this obstacle, Indonesia managed to outperform India, which previously held the position of the US's largest trade surplus partner.
This development highlights Indonesia's growing trade significance and its ability to maintain a positive trade balance with major economies even under challenging circumstances. The trade surplus indicates strong demand for Indonesian products in the US market, potentially driven by competitive pricing and strategic trade agreements.
While specific market reactions were not detailed in the initial report, analysts are likely to monitor this development closely. The ability to maintain such a surplus despite tariff barriers suggests resilience in Indonesia's export sector and may influence future trade negotiations between the two countries.
Record Trade Surplus with US
Trade Surplus Despite Tariffs