Indonesia's Trade Balance with Switzerland Shows a US$1.7 Billion Surplus

Indonesia's trade balance with Switzerland showed a surplus of US$1.7 billion in 2020. This trade balance value increased by 3,716% compared to the previous year's balance, which was recorded at US$44.45 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$2.4 billion. This value is higher than Indonesia's imports from Switzerland, which were recorded at US$701.85 million.

Indonesia's exports to Switzerland have been on an upward trend over the past year. The previous year's export value was US$740.72 million.

Imports, according to Trademap data, increased by 0.8% compared to the previous year, which was recorded at US$696.27 million.

Based on product type, there are 10 main export products from Indonesia to Switzerland that recorded a surplus during 2020. The total export value of these main products reached US$7.91 million.

List of 10 Main Indonesian Export Products to Switzerland

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


2. (HS 05): Products of animal origin, not elsewhere specified or included


3. (HS 08): Edible fruit and nuts; peel of citrus fruit or melons


4. (HS 20): Preparations of vegetables, fruit, nuts or other parts of plants


5. (HS 41): Raw hides and skins (other than furskins) and leather


6. (HS 42): Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles…


7. (HS 44): Wood and articles of wood; wood charcoal


8. (HS 45): Cork and cork articles


9. (HS 46): Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork


10. (HS 61): Articles of apparel and clothing accessories, knitted or crocheted

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