Indonesia Books Preliminary USD 4.9 Billion Trade Surplus in May, Finance Minister Says

Indonesia posted a trade surplus of USD 4.9 billion in May based on preliminary customs data, the finance minister said on Tuesday, which would be the country's biggest monthly surplus in more than two years. 

Exports from the resource-rich country reached USD 25.3 billion, while imports were USD 20.4 billion, Sri Mulyani Indrawati told a press conference. 

Statistics Indonesia is due to release final data on July 1. If the figures don't change, the May surplus would be the widest since February 2023, based on LSEG data. April's surplus was USD 160 million. 

Sri Mulyani said while the trade figures looked good, trade tensions and slowing global growth have influenced exports and would also affect growth in Southeast Asia's biggest economy. 

Strong growth was seen in May exports of agricultural products and manufactured goods, but there was also a steep drop in shipments of mining products, which hurt government revenues, Sri Mulyani said. 

Indonesia ran a budget deficit of IDR 21 trillion (USD 1.29 billion) in the first five months of 2025, equal to 0.09% of GDP, the ministry data showed. 

Revenues in the January-May period reached 995.3 trillion rupiah, while total spending stood at IDR 1,016.3 trillion. 

That compares with a deficit of 0.1% of GDP in the same period of 2024, with revenues at IDR 1,123.5 trillion and spending at IDR 1,145.3 trillion. 

(USD 1 = IDR 16,275) 

Source: Reuters 

Indonesia-Russia Agree on Four Deals Including Investment Platform

Indonesia and Russia have agreed on four cooperation plans, including the establishment of a EUR 2 billion investment platform. 
 
A document exchange ceremony for these agreements took place at the Konstantinovsky Palace in St. Petersburg, Russia, on Thursday. 
 
The event was attended by Russian President Vladimir Putin and visiting Indonesian President Prabowo Subianto. 
 
Three of the four plans involve cooperation in the fields of higher education, transportation, and the development of digital and mass media. 
 
The fourth agreement involves the creation of a EUR 2 billion investment platform between the two countries' sovereign wealth funds—Danantara Indonesia and the Russian Direct Investment Fund. 

“I would like to underline that Indonesia is an important partner of Russia in the Asia-Pacific region,” President Putin stated during a joint press statement with President Prabowo after the ceremony. 
 
Putin noted that trade volume between the two countries in the first four months of this year rose by 40% compared to the same period in 2024, which saw USD 4.3 billion in trade. 
 
President Prabowo stated that cooperation between Indonesia and Russia in various fields has grown significantly. 
 

He described his meeting with President Putin as "intense, warm, and productive." 
 

Several Indonesian ministers accompanied Prabowo at the event, including Foreign Minister Sugiono, Defense Minister Sjafrie Sjamsoeddin, Coordinating Minister for Economic Affairs Airlangga Hartarto, and Minister of Communication and Digital Affairs Meutya Hafid. 
 

Also in attendance were Danantara CEO Rosan Perkasa Roeslani and Simon Aloysius Mantiri, CEO of the state-owned energy company Pertamina. 

Source: Antara News 
 

Indonesia Threatens to Block eBay, Nike, Lenovo Over Regulatory Non-Compliance

The Indonesian government has issued a stern warning to several major global brands -- including eBay, Nike, and Lenovo -- demanding they register their digital platforms operating in the country or face being blocked. 

The Communication and Digital Affairs Ministry on Friday said it had sent formal warning letters to seven companies through their local representatives, citing their failure to comply with mandatory registration requirements under Government Regulation No. 5 of 2020. 

The list includes electronics maker Philips, e-commerce platform eBay, sportswear brand Nike, gaming service Xbox (owned by Microsoft), airline KLM Royal Dutch Airlines, and tech giant Lenovo. 

“As of June 17, these companies have not provided an adequate response or shown concrete efforts to fulfill the registration process,” said Alexander Sabar, Director General of Digital Space Oversight at the ministry. 

“All electronic system providers are required to comply with the prevailing regulations to ensure orderly and accountable digital governance in Indonesia,” Alexander added. 

The specific platforms cited for non-compliance include philips.com, operated by PT Philips Indonesia Commercial; bathandbodyworks.co.id, managed by PT Dunia Luxindo; ebay.com and the eBay app, both owned by eBay, Inc.; nike.com and the Nike app, operated by Nike, Inc.; xbox.com and the Xbox app, under Microsoft Corporation; klm.com and the KLM app, run by KLM Royal Dutch Airlines; as well as lenovo.com and the Lenovo app, managed by PT Lenovo Indonesia. 

The government stressed that it is open to dialogue and will allow companies to clarify any technical issues or registration hurdles. However, Alexander warned that continued non-compliance could result in a full blockade of the platforms in Indonesia. 
 
Source: Jakarta Globe