Indonesia Imports US$10.41 Million Worth of Mineral Fuels from Singapore

Indonesia recorded imports from Singapore totaling US$19.41 billion as of December 2022. This figure represents a 25.93% increase compared to the previous year's imports of US$15.41 billion.

Indonesia's trade record with Singapore shows a considerable decrease in imports over the past 10 years. The lowest import value was US$12.34 billion, while the highest reached US$25.58 billion.

Of the 97 products (two-digit HS codes) imported from Singapore, 46 products were worth more than one billion dollars. Furthermore, according to Trademap data, three main products are imported annually from Singapore. This indicates a significant dependence on these imported products. The majority of the remaining products (93 in total) are also imported from other countries.

The following is a list of the top five products imported by Indonesia from Singapore, ordered from highest to lowest transaction value.

1. Mineral fuels, mineral oils and products of their distillation

Indonesia imports a significant amount of mineral fuels, mineral oils, and products of their distillation. In the Trademap classification, these fall under HS code 27. This product category is grouped together with bituminous substances and mineral waxes. In 2022, Indonesia imported US$10.41 billion worth of these products, an increase compared to the previous period's US$6.8 billion.

2. Electrical machinery and equipment and parts thereof

Indonesia's second-largest import from Singapore is electrical machinery and equipment and parts thereof. Imports in 2022 totaled US$1.79 billion, slightly up from US$1.72 billion in the previous period.

3. Plastics and articles thereof

Imports of plastics and articles thereof from Singapore rank third. In 2022, Indonesia imported US$1.2 billion worth of these products. Other top five suppliers of this product to Indonesia include China, Mali, Thailand, and the Republic of Korea.

4. Nuclear reactors, boilers, machinery and mechanical appliances

Imports of nuclear reactors, boilers, machinery and mechanical appliances from Singapore rank seventh. In 2022, Indonesia imported US$1.12 billion worth of these products. Other top five suppliers to Indonesia include Mali, China, Japan, Thailand, and the United States.

5. Organic chemicals

Organic chemicals, classified under HS code 29 in Trademap, represent Indonesia's fifth largest import from Singapore. Imports totaled US$1.02 billion, slightly lower than the previous period's US$1.03 billion. Trademap data shows that Indonesia imports organic chemicals from 64 countries. The other top five suppliers of organic chemicals to Indonesia are Mali, China, Malaysia, and India.