Jakarta (ANTARA) – Indonesian Trade Minister Budi Santoso has expressed optimism that Indonesia's trade balance will return to a monthly surplus, driven by the stabilization of global oil prices.”We are optimistic that as oil prices began to stabilize in June and July, we will hopefully see a monthly surplus,” he told reporters after attending the Indonesia-Thailand Business Forum here on Tuesday.“Therefore, on a year-on-year or cumulative basis from January to July, we remain optimistic about a growing surplus,” he continued.He noted that Indonesia's export performance continues to demonstrate positive growth. From January to June 2026, the country's exports rose by 3.9 percent, with the cumulative trade balance maintaining a surplus of US$3.58 billion.While Indonesia's trade balance experienced a monthly deficit in May and June 2026, the deficit narrowed from US$1.6 billion in May to US$0.45 billion in June.”This indicates that the deficit is declining, and our export surplus is increasing,” the minister emphasized.Santoso explained that, excluding the impact of surging global oil prices, Indonesia's trade balance would have remained in a surplus. The spike in oil prices during March and April, which reached US$100 to US$110 per barrel, was a significant factor pressuring the country's trade performance.”Previously, the price was below US$100. So realistically, if we account for the oil price factor, we were actually experiencing a surplus during May and June,” Santoso stressed.To mitigate future fluctuations, the government is striving to boost export volumes and diversify its product ranges to other countries, including Thailand.Santoso highlighted that trade relations between Indonesia and Thailand present substantial opportunities, as both countries offer complementary products.He noted that this mutually beneficial trade relationship could strengthen bilateral economic ties and potentially reduce trade barriers.Previously, Statistics Indonesia (BPS) reported on Monday (August 3) that Indonesia's trade balance recorded a surplus of US$3.58 billion during the January-June 2026 period.Deputy for Distribution and Services Statistics of BPS Ateng Hartono detailed that the surplus in the first half of 2026 was primarily driven by the non-oil and gas sector, which posted a surplus of US$19.35 billion.Meanwhile, the oil and gas sector recorded a deficit of US$15.77 billion.