Indonesia’s external debt recorded 0.2 percent (year-on-year/yoy) growth in November 2025, moderating from 0.5 percent (yoy) the month earlier.

Jakarta (Indonesia Window) – Bank Indonesia (BI/the central bank) reported that the position of Indonesia’s external debt stood at 423.8 billion US dollars in November 2025, declining from 424.9 billion US dollars in October 2025.

Annually, Indonesia’s external debt recorded 0.2 percent (year-on-year/yoy) growth in that period, moderating from 0.5 percent (yoy) the month earlier, influenced by slower growth of external debt in the public sector.

The position of government external debt in November 2025 was recorded at 209.8 billion US dollars, retreating from 210.5 billion US dollars the month earlier.

Annually, the government external debt growth moderated from 4.7 percent (yoy) in October 2025 to 3.3 percent (yoy) in November 2025.

The latest external debt developments primarily stemmed from government's securities ownership rebalancing in response to persistently high global financial market uncertainty.

External debt, as a financing instrument 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 fiscal sustainability and strengthening the national economy.

By economic sector, the government external debt was used to support various sectors, including human health and social activities (22.2 percent of the total government external debt); public administration, defence, and compulsory social security (19.7 percent); education (16.4 percent); construction (11.7 percent); as well as transportation and storage (8.6 pecent).

The current state of the government external debt remains manageable, considering 99.99 percent of the total government external debt is long-term maturities.

In November 2025, the position of private external debt decreased to 191.2 billion US dollars from 191.7 billion US dollars in October 2025.

Annually, the private external debt experienced a 1.3 percent (yoy) contraction in the reporting period, lower than previous month which recorded at 1.5 percent (yoy).

The latest developments were influenced by a shallower contraction of external debt at non-financial corporations (NFC), recorded at 0.4 percent (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 accounting for 80.5 percent 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 decreased to 29.3 percent in November 2025 from 29.4 percent in October 2025, with long-term debt dominating 86.1 percent of the 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, January 2026 edition​, on the Bank Indonesia website.

This publication is also accessible via the Ministry of Finance website.

Reporting by Indonesia Window