Indonesia-Vietnam Trade Records a Record High in 2021

Dzulfiqar Fathur Rahman 01/08/2022 20:00 WIB

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Indonesia-Vietnam bilateral trade reached a record high of US$11.06 billion in 2021, the highest since 1989.

Indonesia-Vietnam Trade Value (1989–2021)

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Indonesia-Vietnam Trade Records a Record High in 2021

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Indonesia-Vietnam Trade Value (1989–2021)

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Indonesia's trade relationship with Vietnam rebounded in 2021 from the slump caused by the Covid-19 pandemic.

United Nations Comtrade data recorded that the value of goods traded between the two countries reached US$11.06 billion in 2021, the highest since 1989.

Vietnam became Indonesia's 11th largest trading partner last year, contributing approximately 2.58% to Indonesia's total trade value.

Indonesia also recorded a trade surplus in goods with Vietnam of US$2.63 billion in 2021, the largest surplus since 1989.

In 2021, the value of Indonesian goods exported to Vietnam grew by 38.65% (year-on-year) to US$6.85 billion. The five main export commodities from Indonesia to Vietnam are:

1. Coal;
2. Palm oil;
3. Iron;
4. Motorcycles; and
5. Vehicles.

Meanwhile, the value of goods imported from Vietnam also grew by 34.57% (year-on-year) to US$4.21 billion in the same period. The five main commodities imported by Indonesia from Vietnam are:

1. Telephones;
2. Iron;
3. Propylene;
4. Television components; and
5. Leather.

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."