Indonesia has consistently run a trade deficit with Singapore since 2008.

President Joko Widodo (Jokowi) held a bilateral meeting with the Prime Minister of Singapore, Lee Hsien Loong, on January 25, 2021, in Bintan Regency, Riau Islands. The meeting discussed efforts to strengthen bilateral cooperation in various fields.

Singapore is one of Indonesia's largest trading partners. Based on data from the Ministry of Trade, Indonesia's trade with Singapore from January to November 2021 reached US$24.29 billion. This figure increased by 15.82% compared to the same period the previous year.

Details of trade between the two countries show that Indonesia's total exports to Singapore reached US$10.52 billion throughout January-November 2021. Meanwhile, Indonesia's imports from Singapore amounted to US$13.78 billion.

Thus, Indonesia's trade balance with Singapore experienced a deficit of US$3.26 billion throughout January-November 2021. This deficit increased almost twofold, or 93.91%, compared to the total deficit for the January-December 2020 period, which was US$1.68 billion. This is also the 14th time Indonesia has experienced such a deficit.

As shown in the graph, Indonesia has consistently experienced a trade deficit with Singapore since 2008. Indonesia's trade deficit with Singapore reached its lowest record of US$8.95 billion in 2012.