No.27/218/DKom
Indonesia's external debt decreased in July 2025. The position of external debt in Indonesia was recorded at 432.5 billion US dollars in the reporting period, diminishing from 434.1 billion US dollars in June 2025. Annually, external debt in Indonesia grew 4.1% (yoy), moderating from 6.3% (yoy) in June 2025. The aforementioned developments were primarily impacted by slower growth of external debt in the public sector. Broad-based US dollar appreciation against most global currencies, including the Rupiah, also influenced the position of external debt in July 2025.
Government external debt posted lower growth. The position of government external debt in July 2025 was recorded at 211.7 billion US dollars, as growth moderated to 9.0% (yoy) from 10.0% (yoy) in June 2025. The recent changes in government external debt have been affected by slower growth in the position of foreign loans and government debt securities. External debt, as a financing component of the State Revenue and Expenditure Budget (APBN), is consistently geared towards productive sectors aimed at maintaining economic growth momentum in Indonesia, while ensuring prudent, measured, and accountable external debt management. By economic sector, government external debt was used to support various sectors, including human health and social activities (23.1% of total government external debt); education (17.0%); public administration, defense, and compulsory social security (15.9%); construction (12.1%); as well as transportation and storage (8.9%). The current state of government external debt remains manageable since nearly all, or 99.9%, of total government external debt is dominated by long-term maturities.
Private external debt continued to record contractionary growth. In July 2025, the position of private external debt remained stable at 195.6 billion US dollars, while maintaining a steady contraction of 0.3% (yoy) compared to the preceding period. The development of private external debt stems from a greater contraction in non-financial corporations to 1.2% (yoy), while financial corporations recorded a higher growth at 3.6% (yoy) in July 2025. The manufacturing industry, insurance and financial services, electricity and gas delivery, and mining and quarrying were the most significant contributors to private external debt, accounting for 80.4% of total private external debt.
The structure of external debt in Indonesia remains sound, supported by prudent management. Such developments are reflected in the ratio of external debt to gross domestic product (GDP), which was recorded at 30.0% in July 2025, down from 30.5% in June 2025, with long-term debt dominating 85.5% 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 also also continue to be optimized to support financing for development and stimulate 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), September 2025 edition, on the Bank Indonesia website. This publication is also accessible via the Ministry of Finance website.
Jakarta, 15 September 2025
Communication Department
Ramdan Denny Prakoso
Executive Director
