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

Indonesia's trade balance with Bulgaria showed a surplus of US$64.66 million in 2020. This trade balance value increased by 257.44% compared to the previous year's balance, which was recorded at US$ -41.07 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$126.82 million. This value is higher than Indonesia's imports from Bulgaria, which were recorded at US$62.16 million.

Indonesia's exports to Bulgaria have been on an upward trend over the past year. The previous year's export value was US$56.74 million.

Meanwhile, imports, according to Trademap data, decreased by 36.45% compared to the previous year, which was recorded at US$97.81 million.

Based on product type, there were 10 main export products from Indonesia to Bulgaria that recorded a surplus during 2020. The total export value of these main products reached US$112.39 million.

List of 10 Main Indonesian Export Products to Bulgaria

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


2. (HS 40): Rubber and articles thereof


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


4. (HS 39): Plastics and articles thereof


5. (HS 18): Cocoa and cocoa preparations


6. (HS 55): Man-made staple fibers


7. (HS 85): Electrical machinery and equipment and parts thereof; sound or television broadcasting apparatus


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


9. (HS 80): Tin and articles thereof


10. (HS 16): Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates

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