No. 27/301/DKom
External debt in Indonesia decreased in October 2025. The position of external debt was recorded at 423.9 billion US dollars in the reporting period, declining from 425.6 billion US dollars in September 2025. Annually, external debt recorded a 0.3% (yoy) growth in October 2025, primarily driven by increasing external debt in the public sector.
Government external debt remained manageable. The position of government external debt in October 2025 was recorded at 210.5 billion US dollars, with annual growth of 4.7% (yoy). Recent government external debt developments were influenced by foreign capital inflows to international government securities (SBN) in line with positive investor sentiment concerning Indonesia's promising economic outlook against a backdrop of increasing global financial market uncertainty. External debt, as a financing component of the State Revenue and Expenditure Budget (APBN), is managed prudently, measurably, and accountably, while remaining consistently geared towards supporting priority programs aimed at maintaining and strengthening economic growth momentum in Indonesia. By economic sector, government external debt was used to support various sectors, including human health and social activities (22.2% of total government external debt); public administration, defense, and compulsory social security (19.6%); education (16.4%); construction (11.7%); as well as transportation and storage (8.6%). The current state of government external debt remains manageable, considering 99.99% of total government external debt is long-term maturities.
Private external debt declined. In October 2025, the position of private external debt stood at 190.7 billion US dollars, retreating from 192.5 billion US dollars in September 2025. Annually, private external debt experienced a 1.9% (yoy) contraction. Financial corporations and non-financial corporations (NFC) contributed to the latest developments, experiencing 4.7% (yoy) and 1.2% (yoy) contractions, respectively. By economic sector, the main contributors to private external debt were the manufacturing industry; insurance and financial services; electricity and gas supply; as well as mining and quarrying, collectively accounting for 80.9% of total private external debt.
The structure of external debt in Indonesia remains sound, supported by prudent management. This is reflected in the ratio of external debt to gross domestic product (GDP), recorded at 29.3% in October 2025, with long-term debt dominating 86.2% of total external debt. Seeking to maintain a healthy structure, Bank Indonesia and the Government will continue strengthening coordination to monitor external debt developments. Furthermore, the role of external debt will continue to be optimized to support financing for development and foster sustainable national economic growth. Such efforts are undertaken by minimizing the risks posed to economic stability.
The latest external debt data and metadata are presented in the publication of Indonesia's External Debt Statistics (SULNI), December 2025 edition , on the Bank Indonesia website. This publication is also accessible via the Ministry of Finance website.
Jakarta 15th December 2025
Communication Department
Ramdan Denny Prakoso
Executive Director
