Indonesia's Trade Balance with the Turks and Caicos Islands Shows a Surplus of US$0.53 Million

Indonesia's trade balance with the Turks and Caicos Islands showed a surplus of US$0.53 million in 2020. This trade balance value increased by 18.78% compared to the previous year's balance, which was recorded at US$0.44 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$0.53 million. This value is higher than Indonesia's imports from the Turks and Caicos Islands, which were recorded at US$1,000.

Indonesia's exports to the Turks and Caicos Islands have been on an upward trend in the last year. The previous year's export value was US$0.44 million.

As for imports, according to Trademap data, there was a 0% decrease compared to the previous year, which was recorded at US$1,000.

Based on product type, there were nine main export products from Indonesia to the Turks and Caicos Islands that recorded a surplus during 2020. The total value of these main exports reached US$0.53 million.

List of nine main Indonesian export products to the Turks and Caicos Islands

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


2. (HS 94): Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; parts thereof


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


4. (HS 63): Other made up textile articles; sets; worn clothing and worn textile articles; rags


5. (HS 68): Articles of stone, plaster, cement, asbestos, mica or similar materials


6. (HS 83): Other base metals articles


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


8. (HS 39): Plastics and articles thereof


9. (HS 59): Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable…

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