Indonesia's Oil Imports Soar by Nearly 50% Amid Rising Crude Prices

The value of Indonesia's oil and gas imports surged by nearly 50% in July 2026 compared to the same period last year, according to Statistics Indonesia (BPS). The total import value increased to $3.77 billion, with the majority of the increase attributed to a rise in crude oil prices.

The BPS reported that the volume of oil and gas imports also rose by 15.44% in July, but the increase in price far exceeded the increase in volume. Deputy of Distribution and Service Statistics BPS Ateng Hartono stated that the surge in world oil prices was the primary trigger for the increase in oil and gas import figures.

The data also showed that the cumulative value of oil and gas imports from January to July 2026 increased by $7.39 billion or surged by 40.24%, driven by a significant rise in crude oil and oil-derived product imports.