Indonesia's Exports to Iran Increased, but Imports Decreased in 2020

Indonesia's trade balance with Iran showed a surplus of US$180.54 million in 2020. This trade balance value increased by 90.87% compared to the previous year's balance, which was recorded at US$94.59 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$198.26 million. This value is higher than Indonesia's imports from Iran, which were recorded at US$17.72 million.

Indonesia's exports to Iran have been on an upward trend over the past year. The previous year's export value was US$118.1 million.

Meanwhile, imports, according to Trademap data, decreased by 24.64% compared to the previous year, which was recorded at US$23.51 million.

Based on product type, there were 10 main export products from Indonesia to Iran that recorded a surplus during 2020. The total export value of these main products reached US$181.81 million.

List of 10 Main Indonesian Export Products to Iran

1. (HS 08): Edible fruits and nuts; peel of citrus fruit or melon


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


3. (HS 87): Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof


4. (HS 38): Miscellaneous chemical products


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


6. (HS 09): Coffee, tea, maté and spices


7. (HS 72): Iron and steel


8. (HS 54): Man-made filaments; strip and the like of man-made textile materials


9. (HS 34): Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations


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

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