Indonesia's Exports and Imports to Sri Lanka Decreased in 2020

Indonesia's trade balance with Sri Lanka showed a surplus of US$239.3 million in 2020. However, this surplus decreased by 14.87% compared to the previous year's US$281.09 million.

The decline in Indonesia's trade balance with Sri Lanka was due to Indonesia's exports to Sri Lanka reaching only US$265.93 million, while imports amounted to US$26.63 million.

The three main products imported from Sri Lanka were knitted or crocheted fabrics (HS 60), articles of apparel and clothing accessories, not knitted or crocheted (HS 62), and articles of apparel and clothing accessories, knitted or crocheted (HS 61).

Indonesia's exports to Sri Lanka have been on a downward trend over the past year. The previous year's export value was US$321.36 million.

Ten main export products contributed to a surplus in 2020, totaling US$185.81 million.

Top 10 Indonesian Export Products to Sri Lanka

1. (HS 15): Animal or vegetable fats and oils and their cleavage products; edible fats; animal or vegetable waxes


2. (HS 48): Pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) paper or paperboard; paper and paperboard; articles of paper pulp, of paper or of paperboard


3. (HS 38): Miscellaneous chemical products


4. (HS 24): Tobacco and manufactured tobacco substitutes


5. (HS 40): Rubber and articles thereof


6. (HS 31): Fertilizers


7. (HS 03): Fish and crustaceans, molluscs and other aquatic invertebrates


8. (HS 30): Pharmaceutical products


9. (HS 85): Electrical machinery and equipment and parts thereof; sound recorders and reproducers; television image and sound recorders and reproducers


10. (HS 87): Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof

Globally, the trade balance for all goods improved due to increases in several product categories. Indonesia's total trade balance was recorded at US$21.68 billion, a 703.56% increase. In other words, Indonesia recorded a trade surplus. The previous year's trade balance with all countries worldwide was recorded at US$-3.59 billion.