According to Indonesia Import-Export Data, Indonesia’s trade surplus decreased to $1.02 billion in December 2021, the lowest in the last 20 months. Indonesia’s imports hit a high record in December as Indonesia’s exports decreased in the global trade market.
Since May 2020, some of the largest economies of Southeast Asia have been reporting a trade surplus each month as the Covid-19 pandemic exceeded local demand while the prices of export commodities such as copper, steel, tin, coal, rubber, and palm oil have increased at a rapid pace.
The forecast of Exim shows that in December Indonesia’s surplus was about a third to $3.13 billion, less than November's $3.51 billion. Based on import data, December imports of Indonesia estimated a high value of $21.36 billion, an increase of 47.93% on Y-O-Y which is greater than the actual forecast imposed by the economist which was 39.40% growth.
In a recent conference meeting, Margo Yuwono, the head of Indonesia’s statistics commented that the increase in production and demand shows that the economic conditions and activity of Indonesia are improving.
Indonesia recorded a growth of 35.30% in its total exports on a yearly basis. The reason being the shipment and export to china slowed down as Beijing has boosted the domestic output of the fuel.
Indonesia trade data suggests the total shipment value was worth $22.38 billion in December which is the second-highest till November which was $22.84 billion. Economists and market experts have warned Indonesia about the effect of the ban on the export of coal. The coal export contributes about 14% of Indonesia’s overall exports and widespread outages of domestic power could result in a deficit in Indonesia’s trade balance.
The data is based on Indonesia's import-export trade activities retrieved and sourced by Exim’s expert panel to assist traders, manufacturers, importers & exporters from all over the globe in their several decision-making processes.
Exim’s customs import-export trade data offer complete transparency into the trade activities of various global countries which helps you evaluate the overall supply chain and demand of the global trade market.
Indonesia’s Major Trading Partners
Based on Indonesia Export Data, China, United States of America, Japan, Singapore, India, Malaysia, Korea, Philippines, Thailand, and Vietnam are some of the major Indonesia export partner countries.
Country | Value in USD ($) | Share in % |
China | $31 Billion | 19.4% |
United States of America | $18.6 Billion | 11.4% |
Japan | $13.6 Billion | 8.36% |
Singapore | $10.7 Billion | 6.55% |
India | $10.4 Billion | 6.37% |
Malaysia | $8.13 billion | 4.97% |
Korea | $6.5 billion | 3.98% |
Philippines | $5.89 billion | 3.61% |
Thailand | $5.11 billion | 3.13% |
Vietnam | $4.94 billion | 3.02% |
Top Rated Products of Indonesia
Rank | Export Product | Value (US$) |
1 | Palm Oil | $17,364,812,000 |
2 | Coal & Solid Fuels Made From Coal | $14,547,621,000 |
3 | Gold | $5,541,878,000 |
4 | Petroleum Gasses | $5,452,286,000 |
5 | Iron Ferroalloys | $4,745,250,00 |
6 | Natural Rubber | $3,011,840,000 |
7 | Flat-rolled stainless steel & article | $2,993,038,000 |
8 | Industry fatty acids & alcohol | $2,916,548,000 |
9 | Cars | $2,689,360,000 |
10 | Copper ores & concentrates | $2,412,204,000 |
For more info on Indonesia imports & exports, you can buy customs import-export trade data through Exim and get access to Exim’s customized import-export market analysis reports and gain dynamic insights into the world trade market.
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