Airlangga: Four countries exempted from natural resource export earnings rule

Indonesia has granted exemptions from its new natural resource export earnings (DHE SDA) regulations to four key trading partners: the United States, China, Canada, and Australia. Coordinating Minister for Economic Affairs Airlangga Hartarto announced that these countries are excluded due to existing bilateral trade agreements with Indonesia.

The DHE SDA regulations, officially implemented on June 1, 2026, through Government Regulation (PP) No. 21 of 2026, revise previous rules on foreign exchange from natural resource activities. The regulation allows for flexibility in implementing bilateral trade agreements and specific accords, providing the legal basis for these exemptions.

Under the new policy, exporters of natural resources are mandated to deposit 100% of their export earnings into accounts held by state-owned banks (Himbara). This measure aims to bolster Indonesia's foreign exchange reserves and ensure the stability of the rupiah's exchange rate. Exporters are required to keep at least 30% of oil and gas DHE and 100% of non-oil and gas DHE in a special Himbara account for a minimum of three months for oil and gas, and 12 months for non-oil and gas commodities.

Additionally, the government has adjusted the conversion rate of foreign exchange to rupiah. Previously, 100% conversion was mandatory. The revised rule allows exporters to convert a maximum of only 50% to rupiah, providing them more leeway to retain a portion of their earnings in foreign currency.