Indonesia's Exports to Taipei Increased, but Imports Decreased in 2020

Indonesia's trade balance with Taipei recorded a surplus of US$473.44 million in 2020. This trade balance value increased by 50.9% compared to the previous year's balance, which was recorded at US$313.75 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$4.1 billion. This value is higher than Indonesia's imports from Taipei, which were recorded at US$3.63 billion.

Indonesia's exports to Taipei have been on an upward trend over the past year. The previous year's export value was US$4.03 billion.

Meanwhile, imports, according to Trademap data, decreased by 2.57% compared to the previous year, which was recorded at US$3.72 billion.

Based on product type, there were 10 main export products from Indonesia to Taipei that recorded a surplus during 2020. The total export value of these main products reached US$2.82 billion.

List of 10 Main Indonesian Export Products to Taipei

1. (HS 27): Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes.


2. (HS 72): Iron and steel


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


4. (HS 48): Pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) paper or paperboard; paper and paperboard; articles of paper pulp, of paper or of paperboard


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


6. (HS 26): Ores, slag and ash


7. (HS 30): Pharmaceutical products


8. (HS 80): Tin and articles thereof


9. (HS 40): Rubber and articles thereof


10. (HS 74): Copper and articles thereof

Globally, the trade balance for all goods was better 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.