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Indonesia recorded imports from Panama worth US$17.39 million as of December 2023. This figure represents a 203.12% increase compared to the previous year's imports, which were recorded at US$5.74 million.
Indonesia's trade record with Panama shows a significant decrease in imports over the past 10 years. The lowest import value was US$5.74 million, while the highest reached US$82.31 million.
Of the 97 products (two-digit HS codes) imported from Panama, 39 products were worth more than one billion dollars. Furthermore, according to Trademap data, Indonesia imports 18 main products annually from this country. This indicates a significant dependence on these imported products. The remaining products are mostly imported from other countries as well.
The following is a list of the top five products imported by Indonesia from Panama. This list is ordered from the highest to lowest transaction value.
- Ships, boats, and floating structures
- Raw hides and skins (other than furskins) and leather
- Nuclear reactors, boilers, machinery and mechanical appliances
- Nickel
- Food industry residues and waste
Indonesia imported a significant amount of Ships, boats, and floating structures, which fall under HS code 89 according to Trademap classification. In 2023, Indonesia imported US$15.1 million worth of these products. This represents an increase compared to the previous period, which recorded US$3,800 thousand.
Raw hides and skins (other than furskins) and leather fall under HS code 41. Indonesia imported US$1.38 million worth of these products from Panama.
Indonesia also imported a significant amount of Nuclear reactors, boilers, machinery and mechanical appliances from Panama, valued at US$0.46 million. This represents an increase compared to the previous period, which recorded US$194 thousand. Panama is recorded as the largest supplier of these products to Indonesia. Other top five suppliers include China, Germany, the United States, Japan, and Italy.
Indonesia imported US$0.16 million worth of Nickel (HS code 75), showing an increase as no imports were reported from Panama in the previous year. Besides Panama, Indonesia also relies on nickel imports from Indonesia, Canada, the United States, the United Kingdom, and Germany. In addition to these main countries, Indonesia imported this product from four other countries.
Falling under HS code 23, Food industry residues and waste are categorized together with prepared animal feed. Indonesia imported US$0.15 million worth of these products, showing an increase as no imports were reported from Panama in the previous year. Besides Panama, Indonesia also relies on imports of Food industry residues and waste from the United States, Brazil, Germany, the Netherlands, and Argentina. In addition to these main countries, Indonesia imported this product from four other countries.
"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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