Indonesia's Trade Balance with Saudi Arabia Shows a US$1.28 Billion Deficit

Indonesia's trade balance with Saudi Arabia recorded a deficit of US$1.28 billion in 2020. This trade deficit decreased by 38.23% compared to the previous year's deficit of US$ -2.06 billion.

The improvement in the trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$1.34 billion. However, Indonesia's imports from Saudi Arabia in 2020 were higher than exports, reaching US$2.61 billion.

Indonesia's exports to Saudi Arabia have been declining over the past year. The previous year's export value was US$1.5 billion.

Imports, according to Trademap data, decreased by 26.75% compared to the previous year's figure of US$3.57 billion.

Based on product type, 10 main export products from Indonesia to Saudi Arabia recorded a surplus during 2020. The total value of these main exports reached US$1.07 billion.

List of 10 Main Indonesian Export Products to Saudi Arabia

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


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


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


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


5. (HS 16): Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates


6. (HS 21): Miscellaneous edible preparations


7. (HS 23): Residues and waste from the food industries; prepared animal fodder


8. (HS 85): Electrical machinery and equipment and parts thereof; sound recorders and reproducers; television image and sound recorders and reproducers


9. (HS 40): Rubber and articles thereof


10. (HS 73): Articles of iron or steel

Globally, the trade balance for all goods improved due to an increase 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.