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Indonesia recorded US$2.53 billion in imports from Hong Kong as of December 2023. This figure represents a 15.11% decrease compared to the previous year's imports, which totaled US$2.98 billion.
Over the past 10 years, Indonesia's trade record with Hong Kong shows a continuous surge in imports. The lowest import value was US$1.77 billion, while the highest reached US$3.23 billion.
Of the 97 products (two-digit HS codes) imported from Hong Kong, 48 products were worth over one billion dollars. Furthermore, according to Trademap data, Indonesia imports 86 main products from this country annually. 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 Hong Kong, ordered from highest to lowest transaction value.
- Cultured or natural pearls, precious or semi-precious stones, precious metals, clad metals
- Machinery, electrical equipment and parts
- Iron and steel
- Knitted or crocheted fabrics
- Plastics
Indonesia imported the largest amount of Cultured or natural pearls, precious or semi-precious stones, precious metals, and clad metals. In the Trademap classification, these fall under HS code 71. In 2023, Indonesia imported US$892.72 million worth of these products. This is lower than the previous period's US$1.09 billion.
Indonesia's second largest import from Hong Kong was Machinery, electrical equipment and parts, totaling US$541.08 million in 2023. This is lower than the previous period's US$576.73 million.
Imports of Iron and steel from Hong Kong are currently the largest. Indonesia imported US$154.97 million worth from this country. Other major suppliers of Iron and steel to Indonesia include China, Germany, Japan, Indonesia itself, and the Republic of Korea.
Imports of Knitted or crocheted fabrics totaled US$154.38 million. This is lower than the previous period's US$201.38 million. Besides Hong Kong, Indonesia also imports Knitted or crocheted fabrics from China, Türkiye, the Republic of Korea, Taipei, China, and Afghanistan. In addition to these main countries, Indonesia imported this product from four other countries.
Next is Plastics, with HS code 39. Indonesia imported US$94.19 million worth from Hong Kong. Indonesia imports this product from only one country. Hong Kong is the largest supplier of Plastics to Indonesia. Other top five suppliers include China, the United States, Germany, the Republic of Korea, 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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