Indonesia's Trade Deficit with Equatorial Guinea Widened in 2020

Indonesia's trade balance with Equatorial Guinea recorded a deficit of US$36.61 million in 2020. This trade deficit plummeted by -86.34% compared to the previous year's deficit of US$19.65 million.

The sharp decline in Indonesia's trade balance with this country was due to Indonesia's exports to Equatorial Guinea amounting to only US$6.49 million, while imports reached US$43.11 million.

The three main products imported from Equatorial Guinea were: Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS 27); Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof (HS 84); and Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television (HS 85).

Indonesia's exports to Equatorial Guinea have been on a downward trend over the past year. The previous year's export value was US$9.06 million.

Based on product type, there were 10 main export products from Indonesia to Equatorial Guinea that recorded a surplus during 2020. The total value of these main exports reached US$6.47 million.

List of 10 Main Indonesian Export Products to Equatorial Guinea

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


2. (HS 34): Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations


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


4. (HS 48): Pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) paper or paperboard; paper and paperboard; articles of paper pulp, of paper or of paperboard


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


6. (HS 36): Explosives; pyrotechnic products; matches; pyrophoric alloys; certain flammable preparations


7. (HS 94): Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included


8. (HS 33): Essential oils and resinoids; perfumery, cosmetic or toilet preparations


9. (HS 96): Miscellaneous manufactured articles


10. (HS 30): Pharmaceutical products

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