Indonesia's Nuclear Reactor Import from Korea Increases to US$1.76 Billion
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Indonesia recorded US$10.53 billion in imports from South Korea as of December 2023. This represents a 10.18% decrease compared to the previous year's imports of US$11.72 billion.
Indonesia's trade record with South Korea shows a surge in imports over the past 10 years. The lowest import value was US$6.67 billion, while the highest reached US$11.85 billion.
Of the 97 products (two-digit HS codes) imported from South Korea, 52 products were worth more than one billion dollars. Furthermore, according to Trademap data, there are 94 main Indonesian products imported annually from South Korea. This indicates a significant dependence on these imported products. Many of these products are also imported from other countries.
The following is a list of the top five products Indonesia imported from South Korea, ordered from highest to lowest transaction value.
- Nuclear reactors, boilers, machinery and mechanical appliances
- Electrical machinery, equipment and parts
- Iron and steel
- Mineral fuels, mineral oils and products of their distillation
- Plastics
Falling under HS code 84, Nuclear reactors, boilers, machinery and mechanical appliances are a group of imported goods categorized together with parts. Imports of this product from South Korea ranked first. Indonesia imported US$1.76 billion worth of these products from South Korea. This represents an increase compared to the previous period, which recorded US$1.19 billion.
Second on the list, Indonesia's largest imports were Electrical machinery, equipment and parts. Imports from South Korea in 2023 totaled US$1.74 billion. This figure is up from US$1.72 billion in the previous period.
This product was sourced primarily from one country. Imports of Iron and steel from South Korea were the largest. In 2023, Indonesia recorded imports of US$1.03 billion. Five other countries that were sources of Iron and steel imports were China, Germany, Japan, and Indonesia.
Indonesia also imported a significant amount of Mineral fuels, mineral oils and products of their distillation from South Korea. Imports of this product totaled US$977.87 million. This is lower than the previous period, which reached US$1.81 billion. Trademap data shows Indonesia's trade activity importing Mineral fuels, mineral oils and products of their distillation from 4 countries. Imports of Mineral fuels, mineral oils and products of their distillation from South Korea were the largest. Other countries among the top five suppliers of this imported product to Indonesia are the United States, the United Arab Emirates, Saudi Arabia, Canada, and the Netherlands.
Imports of Plastics from South Korea were the largest. In 2023, Indonesia recorded imports worth US$768.01 million. Five other countries that were sources of Plastics imports were China, the United States, Germany, and Belgium.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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