Indonesia's Mineral Fuel Imports from Malaysia Drop to US$4.97 Billion
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Indonesia recorded US$10.76 billion in imports from Malaysia as of December 2023. This represents a significant 13.75% decrease compared to the previous year's imports of US$12.48 billion.
Indonesia's trade record with Malaysia shows an upward trend in imports over the past 10 years. The lowest import value was US$6.93 billion, while the highest reached US$12.48 billion.
Of the 97 products (two-digit HS codes) imported from Malaysia, 46 products were worth more than one billion dollars. Furthermore, according to Trademap data, Indonesia imports 92 major products annually from this country. This indicates a considerable dependence on these imported products. Many of the other imported products are also imported from other countries in significant quantities.
The following is a list of the top five products Indonesia imported from Malaysia, ordered from highest to lowest transaction value.
1. Mineral fuels, mineral oils and products of their distillation
Indonesia imported 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 2023, Indonesia imported US$4.97 billion worth of these products. This is lower than the previous period's US$6.28 billion.
2. Nuclear reactors, boilers, machinery and mechanical appliances
Indonesia's second largest import from Malaysia was nuclear reactors, boilers, machinery and mechanical appliances, totaling US$1.08 billion in 2023. This represents an increase compared to the previous period's US$944.82 million.
3. Plastics
In the Trademap classification, plastics fall under HS code 39. Indonesia imported US$894.01 million worth of plastics. Malaysia remains the largest supplier of plastics to Indonesia. Other top five suppliers include China, the United States, Germany, the Republic of Korea, and Belgium.
4. Electrical machinery and equipment and parts
Malaysia is currently Indonesia's largest supplier of electrical machinery and equipment and parts, with imports totaling US$655.21 million. Other major suppliers include China, Hong Kong, China, Taipei, China, the United States, and Germany.
5. Organic chemicals
Malaysia is also Indonesia's largest supplier of organic chemicals. In 2023, Indonesia imported US$605.29 million worth of these products. Other top five suppliers include China, the United States, Ireland, Switzerland, 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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