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Indonesia recorded US$10.53 billion in imports from South Korea as of December 2023. This represents a 10.18% decrease compared to the previous year's imports, which totaled US$11.72 billion.
Indonesia's trade record with South Korea shows a surge in imports over the past 10 years. The lowest import value was US$6.67 billion, while the highest reached US$11.85 billion.
Of the 97 products (two-digit HS codes) imported from South Korea, 52 products were worth more than one billion dollars. Furthermore, according to Trademap data, Indonesia imports 94 major products annually from this country. This indicates a significant dependence on these imported products. Many of these products are also imported from other countries in large quantities.
The following is a list of the top five products Indonesia imported from South Korea. This list is ordered from highest to lowest transaction value.
- Nuclear reactors, boilers, machinery and mechanical appliances
- Electrical machinery and equipment and parts
- Iron and steel
- Mineral fuels, mineral oils and products of their distillation
- Plastics
Indonesia imported a significant amount of Nuclear reactors, boilers, machinery and mechanical appliances, categorized under HS code 84 in the Trademap classification. This product group is classified together with Parts. In 2023, Indonesia imported US$1.76 billion worth of these goods. This represents an increase compared to the previous period's US$1.19 billion.
Falling under HS code 85, Electrical machinery and equipment and parts are grouped together with Sound recorders and reproducers, television. Indonesia imported US$1.74 billion worth of these products from South Korea.
In the Trademap classification, Iron and steel falls under HS code 72. Indonesia imported US$1.03 billion worth. South Korea remains the largest supplier of Iron and steel to Indonesia. Other top five suppliers include China, Germany, Japan, and Indonesia itself.
South Korea is currently the largest supplier of Mineral fuels, mineral oils and products of their distillation to Indonesia, with imports totaling US$977.87 million. Other major suppliers include the United States, the United Arab Emirates, Saudi Arabia, Canada, and the Netherlands.
South Korea is the largest supplier of Plastics to Indonesia. In 2023, Indonesia imported US$768.01 million worth. Other top five suppliers include China, the United States, Germany, and Belgium.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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