Indonesia-Saudi Arabia Trade Value Reaches US$5.55 Billion in 2021

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Dzulfiqar Fathur Rahman 16/08/2022 16:20 WIB

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Trade in goods between Indonesia and Saudi Arabia grew by 40.44% to US$5.55 billion in 2021 from the previous year, according to United Nations data.

Indonesia-Saudi Arabia Trade Value (1989-2021)

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Indonesia-Saudi Arabia Trade Value Reaches US$5.55 Billion in 2021

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Indonesia-Saudi Arabia Trade Value (1989-2021)

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Trade in goods between Indonesia and Saudi Arabia rebounded in 2021. The United Nations Comtrade reported that the value of trade in goods between Indonesia and Saudi Arabia grew by 40.44% to US$5.55 billion in 2021 from the previous year.

Trade between the two countries had previously declined due to the Covid-19 pandemic. In 2020, the value of trade between Indonesia and Saudi Arabia plummeted to US$3.9 billion from US$5.07 billion in the previous year.

Saudi Arabia is one of Indonesia's main trading partners. This Middle Eastern oil-producing country contributed 1.29% to Indonesia's total value of goods trade in 2021.

Indonesia recorded a trade deficit with Saudi Arabia of US$2.38 billion in 2021. This is wider than the US$1.27 billion deficit in the previous year.

Meanwhile, the value of Indonesian goods exported to Saudi Arabia grew by 18.28% to US$1.58 billion in 2021 from the previous year. On the other hand, the value of imports increased by 51.79% to US$3.96 billion during the same period.

Editor : Annissa Mutia

"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."

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Indonesia-Saudi Arabia Trade Value Reaches US$5.55 Billion in 2021

Indonesia-Saudi Arabia Trade Value Reaches US$5.55 Billion in 2021

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Indonesia-Saudi Arabia Trade Value Reaches US$5.55 Billion in 2021

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