Indonesia's Trade Balance with Turkey Shows a Surplus of US$774.08 Million

Indonesia's trade balance with Turkey showed a surplus of US$774.08 million in 2020. However, this surplus decreased by -3.92% compared to the previous year's balance of US$805.65 million.

This decline in the trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$1.05 billion. This is higher than Indonesia's imports from Turkey, which were recorded at US$274.17 million.

Indonesia's exports to Turkey have been declining over the past year. The previous year's export value was US$1.15 billion.

As for imports, according to Trademap data, there was a 19.89% decrease compared to the previous year, which was recorded at US$342.23 million.

Based on product type, there were 10 main export products from Indonesia to Turkey that recorded a surplus during 2020. The total value of these main exports reached US$281.1 million.

List of 10 Main Indonesian Export Products to Turkey

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


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


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


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


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


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


7. (HS 14): Vegetable plaiting materials; vegetable products not elsewhere specified or included


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


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


10. (HS 18): Cocoa and cocoa preparations

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