Indonesia's Exports to Mexico Decreased, but Imports Increased in 2020

Indonesia's trade balance with Mexico showed a surplus of US$667.22 million in 2020. However, this surplus decreased by 0.94% compared to the previous year's balance of US$673.57 million.

This decline in the trade balance, according to Trademap data, was supported by Indonesian export values reaching US$936.68 million. This is higher than Indonesia's imports from Mexico, which were recorded at US$269.46 million.

Indonesian exports to Mexico have been declining over the past year. The previous year's export value was US$939.28 million.

Imports, according to Trademap data, increased by 1.41% compared to the previous year's figure of US$265.71 million.

Based on product type, 10 main export products from Indonesia to Mexico recorded a surplus during 2020. The total value of these main exports reached US$619.27 million.

List of 10 Main Indonesian Export Products to Mexico

1. (HS 87): Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof


2. (HS 64): Footwear, gaiters and the like; parts of such articles


3. (HS 27): Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes


4. (HS 40): Rubber and articles thereof


5. (HS 31): Fertilizers


6. (HS 15): Animal or vegetable fats and oils and their cleavage products; edible preparations thereof; animal or vegetable waxes


7. (HS 48): Paper and paperboard; articles of pulp, paper or paperboard


8. (HS 18): Cocoa and cocoa preparations


9. (HS 62): Articles of apparel and clothing accessories, knitted or crocheted


10. (HS 85): Electrical machinery and equipment and parts thereof; sound recorders and reproducers; television image and sound recorders and reproducers

Globally, the trade balance for all goods improved this time due to an increase in several types of goods. The total value of Indonesia's trade balance was recorded at US$21.68 billion, or a 703.56% increase. In other words, Indonesia recorded a trade surplus. The previous year's trade balance with all countries worldwide was recorded at US$-3.59 billion.