Indonesia's Trade Balance Saved by a US$15.45 Million Surplus

Indonesia's trade balance with Palau showed a surplus of US$15.45 million in 2020. However, this surplus decreased drastically by -27.65% compared to the previous year's balance of US$21.36 million.

This decline in the trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$16.5 million. This is higher than Indonesia's imports from Palau, which were recorded at US$1.05 million.

Indonesia's exports to Palau have been declining over the past year. The previous year's export value was US$22.24 million.

Imports, according to Trademap data, increased by 19.09% compared to the previous year, which was recorded at US$0.88 million.

Based on product type, there were 10 main export products from Indonesia to Palau that recorded a surplus during 2020. The total value of these main exports reached US$14.48 million.

List of 10 Main Indonesian Export Products to Palau

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


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


3. (HS 90): Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus


4. (HS 85): Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television receivers


5. (HS 40): Rubber and articles thereof


6. (HS 55): Man-made staple fibres


7. (HS 38): Miscellaneous chemical products


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


9. (HS 83): Other articles of base metal


10. (HS 39): Plastics 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$21.68 billion, an increase of 703.56%. In other words, Indonesia recorded a trade surplus. The previous year's trade balance with all countries worldwide was recorded at US$-3.59 billion.