Indonesia-Macao Trade Deficit Widens in 2020

Indonesia's trade balance with Macao experienced a deficit of US$8,036 thousand in 2020. This trade balance deficit plummeted by -1,068.02% compared to the previous year's balance, which was recorded at US$ -688 thousand.

The sharp decline in Indonesia's trade balance with Macao occurred because Indonesia's exports to Macao were only US$1.16 million, while imports reached US$9.2 million.

The three main products imported from Macao were Knitted or crocheted fabrics (HS 60), Cotton (HS 52), and Copper and its articles (HS 74).

Indonesia's exports to Macao have been on a downward trend over the past year. The previous year's export value was US$4.06 million.

Based on product type, there were 10 main export products from Indonesia to Macao that recorded a surplus during 2020. The total value of these main exports reached US$0.89 million.

List of 10 Main Indonesian Export Products to Macao

1. (HS 69): Ceramic products
2. (HS 63): Other made-up textile articles; sets; worn clothing and worn textile articles; rags
3. (HS 19): Cereal preparations, flour, starch or milk; pastrycooks' products
4. (HS 30): Pharmaceutical products
5. (HS 62): Articles of apparel and clothing accessories, knitted or crocheted
6. (HS 73): Articles of iron or steel
7. (HS 94): Furniture; beds, mattresses, mattress supports, cushions and similar stuffed furniture;...
8. (HS 57): Carpets and other textile floor coverings
9. (HS 09): Coffee, tea, maté and spices
10. (HS 17): Sugar and sugar confectionery

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