Indonesia-Vanuatu Trade Deficit Widens in 2020

Indonesia's trade balance with Vanuatu experienced a deficit of US$10.03 million in 2020. This trade deficit plummeted by -380.77% compared to the previous year's balance, which was recorded at US$3.57 million.

The sharp decline in Indonesia's trade balance with Vanuatu occurred because Indonesia's exports to Vanuatu amounted to only US$4.19 million, while imports reached US$14.22 million.

The three main products imported from Vanuatu were: Ships, boats, and floating structures (HS 89); Fish and crustaceans, mollusks, and other aquatic invertebrates (HS 03); and Dairy produce; birds' eggs; natural honey; edible products of animal origin, not elsewhere specified (HS 04).

Indonesia's exports to Vanuatu have been on a downward trend over the past year. The previous year's export value was US$4.25 million.

Based on product type, there were 10 main export products from Indonesia to Vanuatu that recorded a surplus during 2020. The total value of these main exports reached US$3.65 million.

List of 10 Main Indonesian Export Products to Vanuatu

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, candles and similar articles, modelling pastes, "putty" and other mastics; "dental waxes" and dental preparations with a basis of wax.


3. (HS 19): Prepared foods obtained by the milling industry; malt extract; starches; inulin; wheat gluten.


4. (HS 72): Iron and steel


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


6. (HS 96): Miscellaneous manufactured articles.


7. (HS 17): Sugars and sugar confectionery.


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


9. (HS 21): Miscellaneous edible preparations.


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

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.