Indonesia's Exports and Imports to Italy Decreased in 2020

Indonesia's trade balance with Italy showed a surplus of US$188.94 million in 2020. This trade balance value increased by 792.26% compared to the previous year's balance, which was recorded at US$-27.29 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$1.75 billion. This value is higher than Indonesia's imports from Italy, which were recorded at US$1.56 billion.

Indonesia's exports to Italy have been on a downward trend in the last year. The previous year's export value was US$1.75 billion.

Meanwhile, imports, according to Trademap data, decreased by 12.36% compared to the previous year, which was recorded at US$1.78 billion.

Based on product type, there are 10 main export products from Indonesia to Italy that have proven to record a surplus during 2020. The total export value of these main products reached US$1.26 billion.

List of 10 Main Indonesian Export Products to Italy

1. (HS 15): Vegetable fats and oils and their cleavage products; edible fats; animal or vegetable fats and oils and their fractions, whether or not refined, but not chemically modified.


2. (HS 72): Iron and steel


3. (HS 38): Other chemical products


4. (HS 64): Footwear, gaiters and the like; parts of such articles


5. (HS 40): Rubber and articles thereof


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


7. (HS 09): Coffee, tea, maté and spices


8. (HS 39): Plastics and articles thereof


9. (HS 62): Articles of apparel and clothing accessories, knitted or crocheted


10. (HS 55): Man-made staple fibers

Globally, the trade balance for all goods was better this time due to an increase in several types of goods. The total value of Indonesia's trade balance was recorded at US$21.68 billion, or up 703.56%. In other words, Indonesia recorded a trade balance surplus. The previous year's trade balance for Indonesia with all countries in the world was recorded at US$-3.59 billion.