Not from Saudi Arabia, This Country Was Indonesia's Biggest Supplier of Refined Oil in 2021

Limited domestic production of oil fuel (BBM) necessitates significant monthly oil imports for the Indonesian government. These imports consist of both crude oil and refined/processed oil products.

According to data from the Central Bureau of Statistics (BPS), imports of refined oil products reached 21.93 million tons throughout 2021. This figure represents a 30.12% increase compared to the previous year's 20.79 million tons.

The value of these refined oil imports reached US$14.39 billion last year. This represents a 73.71% surge compared to the previous year's US$8.28 billion. This jump was driven by rising global oil prices, coinciding with the global economic recovery from the Covid-19 pandemic that began in early 2020. The increase in global crude oil prices also led to higher domestic fuel prices.

Indonesia's largest refined oil imports originated from Singapore, with a volume of 10.25 million tons valued at US$6.63 billion throughout last year. The next largest importer of refined oil was Malaysia, with 5.17 million tons valued at US$3.47 billion.

Other major sources of Indonesia's imported oil products include India, with 1.38 million tons valued at US$886.3 million, followed by Saudi Arabia with 935,400 tons valued at US$624.5 million.