Indonesia's Trade Balance with Palestine Shows a Surplus of US$0.29 Million

Indonesia's trade balance with Palestine showed a surplus of US$0.29 million in 2020. However, this surplus plummeted by 81.33% compared to the previous year's US$1.56 million.

The sharp decline in Indonesia's trade balance with Palestine was due to Indonesian exports to Palestine reaching only US$1.96 million, while imports amounted to US$1.67 million.

The three main products imported from Palestine were: Edible fruits and nuts; citrus fruit peels or melons (HS 08); Vegetable fats and oils or oil and cleavage products; Edible fats; animals... (HS 15); and Wood and wood articles; wood charcoal (HS 44).

Indonesian exports to Palestine have been on a downward trend over the past year. The previous year's export value was US$2.91 million.

Eight main export products from Indonesia to Palestine recorded a surplus in 2020. The total value of these exports reached US$1.95 million.

List of eight main Indonesian export products to Palestine

1. (HS 21): Other edible preparations


2. (HS 19): Preparations of cereals, flour, starch or milk; Pastrycooks' products


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


4. (HS 40): Rubber and articles thereof


5. (HS 29): Organic chemicals


6. (HS 17): Sugar and sugar confectionery


7. (HS 22): Beverages, spirits, and vinegar


8. (HS 04): Dairy produce; bird's eggs; natural honey; Edible products of animal origin, not elsewhere specified..

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