Indonesia-Malaysia Trade Strengthens in 2021

Economics & Macro

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Dzulfiqar Fathur Rahman 26/06/2022 09:30 WIB

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The value of trade in goods between Indonesia and Malaysia reached US$21.45 billion in 2021.

Indonesia-Malaysia Trade Value (2011–2021)

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Indonesia-Malaysia Trade Strengthens in 2021

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Indonesia-Malaysia Trade Value (2011–2021)

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Indonesia and Malaysia's trade relations strengthened in 2021.

According to the United Nations Comtrade database, the value of goods traded between Indonesia and Malaysia grew by 42.74% (year-on-year) to US$21.45 billion in 2021. This is the highest trade value in the last seven years.

Indonesia recorded annual growth in exports to Malaysia of 48.25% (year-on-year) and import growth of 36.31% (year-on-year) in 2021.

This growth marks a recovery from the COVID-19 pandemic. In 2020, Indonesia and Malaysia restricted business activities due to the pandemic, thus suppressing trade value.

Overall, Indonesia recorded a goods trade surplus of US$35.34 billion in 2021. This surplus was largely driven by a surge in commodity prices.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."