Indonesia's Trade Balance with the British Virgin Islands Shows a US$30,000 Deficit

Indonesia's trade balance with the British Virgin Islands recorded a deficit of US$30,000 in 2020. This trade deficit decreased by 99.58% compared to the previous year's deficit of US$7,189,000.

According to Trademap data, the improvement in the trade balance was supported by Indonesian export value reaching US$1.14 million. However, Indonesian imports from the British Virgin Islands in 2020 were higher than exports, reaching US$1.17 million.

Indonesian exports to the British Virgin Islands have been declining over the past year. The previous year's export value was US$2.1 million.

Imports, according to Trademap data, decreased by 87.42% compared to the previous year, which recorded US$9.28 million.

Based on product type, 10 main export products from Indonesia to the British Virgin Islands recorded a surplus during 2020. The total value of these main exports reached US$1.11 million.

List of 10 Main Indonesian Export Products to the British Virgin Islands

1. (HS 94): Furniture; beds, mattresses, mattress supports, cushions and similar stuffed furniture;…


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


3. (HS 39): Plastics and articles thereof


4. (HS 46): Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork


5. (HS 63): Other made-up textile articles; sets; worn clothing and worn textile articles; rags


6. (HS 68): Articles of stone, plaster, cement, asbestos, mica or similar materials


7. (HS 83): Articles of base metal, nesoi


8. (HS 97): Works of art, collectors' pieces and antiques


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


10. (HS 73): Articles of iron or steel

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$21.68 billion, an increase of 703.56%. In other words, Indonesia recorded a trade surplus. The previous year's trade balance with all countries worldwide was recorded at US$-3.59 billion.