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Indonesia recorded imports from Azerbaijan totaling US$250.78 million as of December 2023. This represents a drastic 70.16% decrease compared to the previous year's imports, which were recorded at US$840.52 million.
Indonesia's trade record with Azerbaijan shows a significant decline in imports over the past 10 years. The lowest import value was US$12,000, while the highest reached US$2.42 billion.
Of the 97 products (two-digit HS codes) imported from Azerbaijan, 39 products were worth more than one billion dollars. Furthermore, according to Trademap data, eight main products are imported annually from Azerbaijan. This indicates a significant dependence on these imported products. The remaining imports consist largely of products also imported from other countries.
The following is a list of the top five products imported by Indonesia from Azerbaijan, ordered from highest to lowest transaction value.
- Mineral fuels, mineral oils and products of their distillation
- Aluminum
- Manufactured tobacco and tobacco substitutes
- Iron or steel
- Preparations of vegetables, fruit, nuts or other parts of plants
Falling under HS code 27, mineral fuels, mineral oils and products of their distillation are a group of imported goods categorized together with bituminous substances and mineral waxes. Imports of this product from Azerbaijan ranked first, with Indonesia importing US$248.88 million. The import value of mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes was lower than the previous period, which reached US$839.91 million.
Second, Indonesia's largest imports were aluminum products. The import value from Azerbaijan in 2023 was recorded at US$1.12 million. In the previous year, Indonesia did not record any imports from this country.
Another imported product was manufactured tobacco and tobacco substitutes, valued at US$0.53 million. In the previous year, Indonesia did not record any imports from this country. Besides Azerbaijan, Indonesia also relies on imports of manufactured tobacco and tobacco substitutes from China, the United Arab Emirates, Poland, Germany, and Brazil. In addition to these main countries, Indonesia recorded imports of this product from four other countries.
Indonesia also recorded significant imports of iron or steel from Azerbaijan. The import value of this product in 2023 was US$0.22 million. In the previous year, Indonesia did not record any imports from this country. Currently, the largest imports of iron or steel still originate from Azerbaijan. Besides this country, the five largest countries that are sources of Indonesian iron or steel imports are China, Germany, the United States, Italy, and Poland.
Next, Indonesia also imported US$15,000 worth of preparations of vegetables, fruit, nuts or other parts of plants from Azerbaijan. The import value of this product increased compared to the previous period, which was recorded at US$13,000. Besides Azerbaijan, Indonesia also relies on imports of preparations of vegetables, fruit, nuts or other parts of plants from China, the Netherlands, Belgium, Italy, and the United States. In addition to these main countries, Indonesia recorded imports of this product from four other countries.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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