Indonesia's Exports and Imports to Cyprus Decreased in 2020

Indonesia's trade balance with Cyprus recorded a deficit of US$33.51 million in 2020. This trade deficit decreased by 11.87% compared to the previous year's balance, which was recorded at US$ -38.02 million.

According to Trademap data, the improvement in the trade balance was supported by Indonesia's export value, which reached US$9.22 million. However, Indonesia's imports from Cyprus in 2020 were higher than exports, amounting to US$42.73 million.

Indonesia's exports to Cyprus have been declining over the past year. The previous year's export value was US$14.88 million.

Imports, according to Trademap data, decreased by 19.22% compared to the previous year, which was recorded at US$52.89 million.

Based on product type, 10 main export products from Indonesia to Cyprus recorded a surplus during 2020. The total value of these main exports reached US$8.11 million.

List of 10 Main Indonesian Export Products to Cyprus

1. (HS 48): Paper and paperboard; articles of pulp, paper or paperboard


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


3. (HS 40): Rubber and articles thereof


4. (HS 94): Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings;…


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


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


7. (HS 39): Plastics and articles thereof


8. (HS 71): Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with…


9. (HS 69): Ceramic products


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

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