Indonesia’s Trade Balance (NPI) surplus recorded a fairly deep decline to US$2.39 billion in October 2025 from US$4.34 billion in September 2025 (Figure 1). This decrease was caused by a fall in the non‑oil and gas surplus to US$4.31 billion in October 2025, from US$5.99 billion in September 2025, with animal and vegetable fats, mineral fuels, and iron and steel supporting the surplus. Meanwhile, the trade balance for oil and gas commodities recorded a wider deficit of US$1.92 billion in October 2025 compared with US$1.64 billion in September 2025, with the main contribution coming from crude oil and refined oil products. The NPI surplus has persisted for 66 months since May 2020. The country with the largest NPI surplus was the United States, at US$14.93 billion, while the most significant deficit was recorded with China, at US$16.32 billion over the January–October 2025 period.