Indonesia's Trade Balance with Germany Shows a US$0.57 Billion Deficit

Indonesia's trade balance with Germany recorded a deficit of US$0.57 billion in 2020. This trade deficit decreased by 47.06% compared to the previous year's deficit of US$ -1.07 billion.

This improvement in the trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$2.46 billion. However, Indonesia's imports from Germany in 2020 were higher than exports, reaching US$3.02 billion.

Indonesia's exports to Germany have shown an upward trend over the past year. The previous year's export value was US$2.41 billion.

Imports, according to Trademap data, decreased by 13.02% compared to the previous year's figure of US$3.48 billion.

Based on product type, 10 main export products from Indonesia to Germany recorded a surplus during 2020. The total value of these main exports reached US$262.72 million.

List of 10 Main Indonesian Export Products to Germany

1. (HS 03): Fish and crustaceans, molluscs and other aquatic invertebrates


2. (HS 06): Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage


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


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


5. (HS 14): Vegetable plaiting materials; vegetable products not elsewhere specified or included


6. (HS 15): Vegetable fats and oils and their cleavage products; edible fats; animal...


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


8. (HS 18): Cocoa and cocoa preparations


9. (HS 20): Preparations of vegetables, fruit, nuts or other parts of plants


10. (HS 21): Other food preparations

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