Indonesia's Trade Balance with Azerbaijan Shows a US$3.1 Million Surplus

Indonesia's trade balance with Azerbaijan showed a surplus of US$3.1 million in 2020. This trade balance value increased by 27.31% compared to the previous year's balance, which was recorded at US$2.44 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$3.6 million. This value is higher than Indonesia's imports from Azerbaijan, which were recorded at US$0.5 million.

Indonesia's exports to Azerbaijan have been on an upward trend over the past year. The previous year's export value was US$2.45 million.

Meanwhile, imports, according to Trademap data, increased by 4,041.67% compared to the previous year, which was recorded at US$12,000.

Based on product type, there are 10 main export products from Indonesia to Azerbaijan that recorded a surplus during 2020. The total export value of these main products reached US$3.57 million.

List of 10 Main Indonesian Export Products to Azerbaijan

1. (HS 73): Iron or steel articles


2. (HS 34): Soap, organic surface-active agents, washing preparations, lubricating preparations, etc.


3. (HS 21): Other edible preparations


4. (HS 39): Plastics and articles thereof


5. (HS 92): Musical instruments; parts and accessories of such articles


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


7. (HS 13): Lac; gums, resins, and other vegetable saps and extracts


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


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


10. (HS 69): Ceramic products

Globally, the trade balance for all goods was better this time due to an increase in several types of goods. Indonesia's total trade balance was recorded at US$21.68 billion, or up 703.56%. In other words, Indonesia recorded a trade surplus. The previous year's trade balance with all countries worldwide was recorded at US$-3.59 billion.