Indonesia's Trade Balance with Chile Shows a US$35.86 Million Surplus

Indonesia's trade balance with Chile showed a surplus of US$35.86 million in 2020. This trade balance value increased by 259.93% compared to the previous year's balance, which was recorded at US$ -22.42 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$144.76 million. This value is higher than Indonesia's imports from Chile, which were recorded at US$108.9 million.

Indonesia's exports to Chile have been on an upward trend over the past year. The previous year's export value was US$126.68 million.

Meanwhile, imports, according to Trademap data, decreased by 26.96% compared to the previous year, which was recorded at US$149.1 million.

Based on product type, there were 10 main export products from Indonesia to Chile that recorded a surplus during 2020. The total export value of these main products reached US$14.34 million.

List of 10 Main Indonesian Export Products to Chile

1. (HS 09): Coffee, tea, maté, and spices


2. (HS 12): Oil seeds and oleaginous fruits; other seeds, grains and fruits; industrial or medicinal...


3. (HS 13): Lac; gums, resins and other vegetable saps and extracts


4. (HS 15): Vegetable fats and oils and their cleavage products; edible fats; animal...


5. (HS 16): Preparations of meat, fish or crustaceans, molluscs or other aquatic invertebrates


6. (HS 17): Sugars and sugar confectionery


7. (HS 18): Cocoa and cocoa preparations


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


9. (HS 20): Preparations of vegetables, fruit, nuts or other parts of plants


10. (HS 29): Organic chemicals

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$21.68 billion, or up 703.56%. In other words, Indonesia recorded a trade balance surplus. The previous year's trade balance with all countries worldwide was recorded at US$ -3.59 billion.