Indonesia's Trade Balance with Barbados Shows a Surplus of US$3.69 Million

Indonesia's trade balance with Barbados showed a surplus of US$3.69 million in 2020. However, this surplus decreased by -3.51% compared to the previous year's balance of US$3.82 million.

The decline in Indonesia's trade balance with Barbados was due to Indonesian exports to Barbados amounting to only US$3.77 million, while imports reached US$82,000.

The three main products imported from Barbados were: Electrical machinery and equipment and parts (HS 85); Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals (HS 28); and Beverages, spirits, and vinegar (HS 22).

Indonesia's exports to Barbados have been on a downward trend over the past year. The previous year's export value was US$4.01 million.

Ten main export products contributed to a surplus in 2020, totaling US$3.68 million.

List of 10 Main Indonesian Export Products to Barbados

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


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


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


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


5. (HS 94): Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included


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


7. (HS 62): Articles of apparel and clothing accessories, knitted or crocheted


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


9. (HS 38): Miscellaneous chemical products


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

Globally, the trade balance for all goods improved due to increases in several product categories. Indonesia's total trade balance was recorded at US$21.68 billion, a 703.56% increase. In other words, Indonesia recorded a trade surplus. The previous year's trade balance with all countries worldwide was recorded at US$-3.59 billion.