Indonesia's Trade Balance with Canada Shows a Deficit for the Past Five Years

Indonesia's trade value with Canada grew by 29.57% to US$3.12 billion in 2021 compared to the previous year, according to data from the Central Statistics Agency (BPS).

Similarly, during the January-February 2022 period, the trade value between the two countries also increased by 43.88% to US$602.25 million compared to the same period the previous year.

Indonesia's export value to Canada grew by 34.53% to US$1.06 billion in 2021. Meanwhile, Indonesia's import value from Canada increased by 27.14% to US$2.05 billion last year.

As a result, Indonesia's trade balance with Canada experienced a deficit of US$999.65 million throughout last year. This deficit widened by 5.06% compared to the previous year, which was only US$825.98 million. Over the past 5 years, Indonesia has consistently experienced a trade deficit with Canada, as shown in the graph.

Indonesia's largest imports from Canada were wheat and meslin seeds, with a volume of 1.92 million tons valued at US$639.28 million. This was followed by 1.8 million tons of artificial fertilizer worth US$545.68 million.

For information, President Joko Widodo (Jokowi) received a visit from Canadian Foreign Minister Melanie Joly and her delegation at the Merdeka Palace, Jakarta, on Monday (April 11). The meeting discussed economic cooperation between the two countries.

Canada is one of Indonesia's important trading and investment partners in North America.