Indonesia-Kazakhstan Trade Deficit Widens in 2020

Indonesia's trade balance with Kazakhstan experienced a deficit of US$ 0.11 billion in 2020. This trade balance deficit plummeted by -268.82% compared to the previous year's balance, which was recorded at US$ 65.33 million.

The sharp decline in Indonesia's trade balance with Kazakhstan occurred because Indonesia's exports to Kazakhstan were only US$ 19.79 million, while imports reached US$ 130.08 million.

The three main products imported from Kazakhstan were Iron and steel (HS 72), Cotton (HS 52), and Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof (HS 84).

Indonesia's exports to Kazakhstan have been on a downward trend over the past year. The previous year's export value was US$ 207.14 million.

Based on product type, there were 10 main export products from Indonesia to Kazakhstan that recorded a surplus during 2020. The total value of these main exports reached US$ 18.52 million.

List of 10 Main Indonesian Export Products to Kazakhstan

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


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


3. (HS 84): Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof


4. (HS 34): Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations


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


6. (HS 21): Miscellaneous edible preparations


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


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


9. (HS 30): Pharmaceutical products


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

Globally, the trade balance for all goods improved 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 surplus. The previous year's trade balance with all countries worldwide was recorded at US$ -3.59 billion.