Indonesia's Trade Balance with India Shows a US$6.65 Billion Surplus

Indonesia's trade balance with India showed a surplus of US$6.65 billion in 2020. However, this surplus decreased by -11.66% compared to the previous year's balance of US$7.53 billion.

This decline in the trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$10.41 billion. This is higher than Indonesia's imports from India, which were recorded at US$3.76 billion.

Indonesia's exports to India have been declining over the past year. The previous year's export value was US$11.82 billion.

As for imports, according to Trademap data, there was a 12.37% decrease compared to the previous year, which was recorded at US$4.3 billion.

Based on product type, there were 10 main export products from Indonesia to India that recorded a surplus during 2020. The total value of these main exports reached US$8.19 billion.

List of 10 Main Indonesian Export Products to India

1. (HS 27): Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes.


2. (HS 15): Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes.


3. (HS 31): Fertilizers


4. (HS 38): Miscellaneous chemical products


5. (HS 26): Ores, slag and ash


6. (HS 40): Rubber and articles thereof


7. (HS 28): Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, or of radioactive elements or isotopes.


8. (HS 80): Base metals and articles thereof


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


10. (HS 47): Pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) paper or paperboard;

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$21.68 billion, or a 703.56% increase. In other words, Indonesia recorded a trade surplus. The previous year's trade balance with all countries in the world was recorded at US$-3.59 billion.