Indonesia's Trade with China Surpasses US$100 Billion Again

China is Indonesia's largest trading partner. Based on data from the Central Statistics Agency (BPS), the value of Indonesia-China trade reached US$109.99 billion, or the equivalent of Rp1,550 trillion (at an exchange rate of Rp14,278 per US dollar) in 2021.

Details show that Indonesia's exports to China were valued at US$53.76 billion, and imports from the Bamboo Curtain country reached US$56.23 billion last year. This means that Indonesia's trade balance experienced a deficit of US$2.46 billion.

Indonesia's trade with China accounts for a quarter of Indonesia's total trade with all its partners, which reached US$427.71 billion.

During the January-October 2022 period, the value of Indonesia-China trade reached US$109.22 billion. This figure grew by 26% compared to the same period the previous year. This accounts for 24.6% of Indonesia's total trade value with all its partners.

Here is a breakdown of Indonesia-China trade during the January-October 2022 period:

Total Trade: US$109.22 billion

* Exports: US$53.32 billion
* Imports: US$55.91 billion
* Balance (Deficit): US$2.59 billion

Meanwhile, the value of Indonesia's trade with India during the January-October 2022 period reached US$28.18 billion. This figure surged by 64.48% compared to the same period the previous year.

India is touted to become Indonesia's largest trading partner considering the growth of trade in recent years. As is known, India is one of the main export destinations for Indonesian palm oil and coal.

Here is a breakdown of Indonesia-India trade during the January-October 2022 period:

Total Trade: US$28.18 billion

* Exports: US$20.10 billion
* Imports: US$8.08 billion
* Balance (Surplus): US$12.02 billion