No. 27/244/DKom
Indonesia's external debt grew at a slower pace in August 2025. The position of external debt in Indonesia was recorded at 431.9 billion US dollars in the reporting period, with annual growth moderating to 2.0% (yoy) from 4.2% (yoy) in July 2025. The latest developments were primarily impacted by a slower growth of external debt in the public sector, accompanied by a contraction of private external debt.
Government external debt posted lower growth. The position of government external debt in August 2025 was recorded at 213.9 billion US dollars, as growth moderated to 6.7% (yoy) from 9.0% (yoy) in July 2025. The recent developments in government external debt were primarily influenced by slower growth of foreign capital inflows to government securities (SBN) in line with persistently high global financial market uncertainty. The external debt, as a financing component of the State Revenue and Expenditure Budget (APBN), is consistently geared towards 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 (23.4% of total government external debt); education (17.2%); public administration, defense, and compulsory social security (15.7%); construction (12.3%); transportation and storage (9.0%) as well as insurance and financial services (8.0%). The current state of government external debt remains manageable considering 99.9% of total government external debt is long-term maturities.
Private external debt continued to track a contractionary trend. In August 2025, the position of private external debt was recorded at 194.2 billion US dollars, experiencing a deeper 1.1% (yoy) contraction following a 0.2% (yoy) decline the month earlier. Non-financial corporations (NFC) contributed to the latest developments, experiencing a 1.6% (yoy) contraction, alongside moderating growth of external debt at financial corporations of 0.8% (yoy). 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 contributing 81.2% 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 August 2025, relatively stable from 29.9% in July 2025, with long-term debt dominating 85.9% 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, Bank Indonesia will continue optimizing the role of external debt 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), October 2025 edition, on the Bank Indonesia website. This publication is also accessible via the Ministry of Finance website.
Jakarta, 15th Oktober 2025
Communication Department
Ramdan Denny Prakoso
Executive Director
