Indonesia Imports US$762.33 Million Worth of Machinery from Vietnam

Indonesia recorded imports from Vietnam totaling US$3.13 billion as of December 2020. This figure represents a significant 18.65% decrease compared to the previous year's imports of US$3.85 billion.

Indonesia's trade record with Vietnam shows an upward trend in imports over the past 10 years. The lowest import value was US$2.38 billion, while the highest reached US$3.85 billion.

Of the 97 products (two-digit HS codes) imported from Vietnam, 40 products were worth over one billion dollars. Furthermore, according to Trademap data, Indonesia imports one main product from Vietnam annually. This indicates a considerable dependence on these imported products. The majority of other imported products (90 products) are also imported from other countries.

The following is a list of the top five products Indonesia imported from Vietnam, ordered from highest to lowest transaction value:

1. Electrical machinery, equipment, and parts

Falling under HS code 85, this category includes electrical machinery, equipment, and parts; sound recorders and reproducers; television receivers, etc. Imports of this product from Vietnam ranked first, totaling US$762.33 million. This is lower than the previous period's US$835.19 million.

2. Iron and steel

With HS code 72, Indonesia imported US$365.14 million worth of iron and steel.

3. Plastics and articles thereof

Indonesia also imported a significant amount of plastics and articles thereof from Vietnam, valued at US$254.47 million in 2020. This is lower than the previous period's US$290.94 million. Indonesia imports this product from 110 countries. Imports of plastics and articles thereof from Vietnam ranked eighth. The top five other countries of origin for these imports are China, Singapore, Thailand, South Korea, and Malaysia.

4. Machinery, mechanical appliances, nuclear reactors, boilers

Imports of machinery, mechanical appliances, nuclear reactors, and boilers totaled US$233.88 million. This represents an increase compared to the previous period's US$203.23 million. Besides Vietnam, Indonesia also relies on imports of these products from China, Japan, Singapore, Germany, and Thailand. In addition to these major countries, Indonesia imports this product from 150 other countries.

5. Footwear, gaiters, and the like

Falling under HS code 64, this category includes footwear, gaiters, and the like; and parts thereof. Indonesia imported US$166.29 million, lower than the previous period's US$201.61 million. Imports of footwear, gaiters, and the like from Vietnam ranked second. Besides Vietnam, the largest imports of this product originate from China, the United States, Hong Kong, and Singapore. Indonesia also imports this product from 79 other countries.