Indonesia's exports unexpectedly plunged 5.73% year-on-year to USD 23.20 billion in May 2026, reversing sharply from a 21.98% jump in April, which marked the strongest growth since August 2022, and defying market forecasts of a 6.4% increase. It was the second decline in exports this year and the steepest fall since November. Oil and gas exports plunged 31.76%, largely due to a sharp decline in crude oil (-100.0%) and natural gas (-44.57%) exports. Non-oil and gas exports fell 4.50% to USD 22.45 billion, weighed down by declines in animal and vegetable fats and oils (-14.23%), iron and steel (-14.68%), and electrical machinery and equipment, including parts (-16.88%). By destination, non-oil and gas exports fell mainly to key trading partners, including the US (-6.24%), India (-24.21%), and ASEAN (-1.04%). For the first five months of 2026, exports grew 3.02% to USD 115.36 billion.