January-February 2022, Indonesia's Trade Balance Shows a Deficit with Russia

The Central Statistics Agency (BPS) reports that Indonesia-Russia trade reached US$679.2 million during January-February 2022.

Details show that Indonesia's exports to Russia amounted to US$332.1 million, while imports from the country reached US$347.1 million. As a result, Indonesia's trade balance experienced a deficit of US$15 million.

Indonesia's export market share to Russia was only 0.84% of total national exports. Meanwhile, the import market share reached 1% of Indonesia's total imports.

Indonesia's main export commodities to Russia included animal and vegetable fats and oils worth US$204.4 million, electrical machinery/equipment US$21.8 million, and mechanical machinery and equipment US$16.5 million.

Meanwhile, Indonesia's main import commodities from the country currently at war with Ukraine were iron and steel worth US$135 million, fertilizers US$95.6 million, and mineral fuels US$63.9 million.

Indonesia's trade with the country led by President Vladimir Putin reached US$2.75 billion throughout 2021. This comprised Indonesian exports to Russia of US$1.496 billion and imports from Russia of US$1.25 billion. Therefore, Indonesia's trade balance with Russia showed a surplus of US$239.8 million.

Indonesia's main export commodities to Russia included animal and vegetable fats and oils worth US$833.6 million, rubber and rubber products US$99.4 million, and electrical machinery/equipment US$89.4 million.

Meanwhile, Indonesia's main import commodities from Russia included iron and steel worth US$447 million, fertilizers US$326.1 million, and mineral fuels US$233.4 million.