Indonesia Experienced a Trade Deficit with 10 G20 Members: Which Countries?

Under President Joko Widodo's (Jokowi) leadership, Indonesia held the G20 Presidency from December 1, 2021, to November 30, 2022. During its presidency, Indonesia adopted the theme "Recover Together, Recover Stronger."

The G20 is a multilateral cooperation forum comprising 19 countries and the European Union. The G20 represents 75% of global trade and 80% of the world's gross domestic product (GDP).

Based on data from the Ministry of Trade, Indonesia experienced a trade deficit with 10 G20 member countries. Indonesia recorded its largest trade deficit with Australia, amounting to US$5.33 billion from January to November 2021.

Specifically, Indonesia's exports to Australia totaled only US$2.97 billion during January-November of last year. Meanwhile, Indonesia's imports from Australia reached US$8.31 billion during the same period.

Indonesia not only experienced a trade deficit with Australia but also with Saudi Arabia, Argentina, China, Brazil, Canada, South Africa, South Korea, Germany, and France.

However, Indonesia recorded a trade surplus with the United Kingdom, Mexico, Italy, Turkey, Japan, India, and the United States.

Note: Data on Indonesia's trade with Russia and the European Union is unavailable.