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Indonesia recorded imports from Panama totaling US$17.39 million as of December 2023. This figure represents a 203.12% increase compared to the previous year's imports of US$5.74 million.
Indonesia's trade record with Panama shows a significant decrease in imports over the past 10 years. The lowest import value was US$5.74 million, while the highest reached US$82.31 million.
Of the 97 products (two-digit HS codes) imported from Panama, 39 products were worth more than one billion dollars. Furthermore, according to Trademap data, Indonesia imports 18 main products from this country annually. This indicates a considerable dependence on these imported products. The remaining products are largely imported from other countries as well.
The following is a list of the top five products imported by Indonesia from Panama, ordered from highest to lowest transaction value.
- Ships, boats, and floating structures
- Raw hides and skins (other than furskins) and leather
- Nuclear reactors, boilers, machinery and mechanical appliances
- Nickel
- Food industry residues and waste
Indonesia imports a significant quantity of Ships, boats, and floating structures. In the Trademap classification, Ships, boats, and floating structures fall under HS code 89. In 2023, Indonesia imported US$15.1 million worth of these products. This represents an increase compared to the previous period, which recorded US$3,800,000.
Raw hides and skins (other than furskins) and leather fall under HS code 41. Indonesia imported US$1.38 million worth of these products from Panama.
Indonesia also imports a significant amount of Nuclear reactors, boilers, machinery and mechanical appliances from Panama, valued at US$0.46 million. This is an increase compared to the previous period, which recorded US$194,000. Trademap data shows Indonesia imports Nuclear reactors, boilers, machinery and mechanical appliances from 4 countries. Imports from Panama are the largest. Other countries among the top five suppliers of this import product to Indonesia are China, Germany, the United States, Japan, and Italy.
Another imported product is Nickel, valued at US$0.16 million. In the previous year, Indonesia recorded no imports of this product from Panama. Trademap data shows Indonesia imports Nickel from 4 countries. Imports from Panama are the largest. The other five countries that are sources of Nickel imports are Indonesia, Canada, the United States, the United Kingdom, and Germany.
Fifth on the list is Food industry residues and waste, with imports valued at US$0.15 million. In the previous year, Indonesia recorded no imports of this product from Panama. Besides Panama, Indonesia also relies on imports of Food industry residues and waste from the United States, Brazil, Germany, the Netherlands, and Argentina. In addition to these main countries, Indonesia recorded imports of this product from 4 other countries.
"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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