Indonesia's Trade Balance with Japan Shows a US$2.99 Billion Surplus

Indonesia's trade balance with Japan saw a surplus of US$2.99 billion in 2020. This trade balance value increased by 775.97% compared to the previous year's balance, which was recorded at US$341.43 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$13.66 billion. This value is higher than Indonesia's imports from Japan, which were recorded at US$10.67 billion.

Indonesia's exports to Japan have been on a downward trend over the past year. The previous year's export value was US$16 billion.

Meanwhile, imports, according to Trademap data, decreased by 31.86% compared to the previous year, which was recorded at US$15.66 billion.

Based on product type, there are 10 main export products from Indonesia to Japan that proved to record a surplus during 2020. The total export value of these main products reached US$512.84 million.

List of 10 Main Indonesian Export Products to Japan

1. (HS 01): Live animals


2. (HS 03): Fish and crustaceans, molluscs and other aquatic invertebrates


3. (HS 04): Dairy produce; birds' eggs; natural honey; edible products of animal origin, not elsewhere specified or included


4. (HS 05): Products of animal origin, not elsewhere specified or included


5. (HS 06): Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage


6. (HS 07): Edible vegetables and certain roots and tubers


7. (HS 08): Edible fruit and nuts; peel of citrus fruit or melons


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


9. (HS 10): Cereals


10. (HS 12): Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal products…

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