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Indonesia recorded imports from Brazil worth US$4.86 billion as of December 2023. This figure represents a 24.51% increase compared to the previous year's imports, which totaled US$3.9 billion.
Indonesia's trade record with Brazil shows a continuous surge in imports over the past 10 years. 2023 marked a historical record with the highest import value ever recorded.
Of the total 97 products (two-digit HS codes) imported from Brazil, 50 products were worth more than one billion dollars. Furthermore, according to Trademap data, Indonesia imports 71 main products from Brazil annually. This indicates a significant dependence on these imported products. The remaining imports consist largely of products also imported from other countries.
The following is a list of the top five products imported by Indonesia from Brazil, ordered from highest to lowest transaction value:
1. Residues and waste from the food industry
Falling under HS code 23, Residues and waste from the food industry are categorized together with prepared animal feed. Imports of this product from Brazil ranked first. Indonesia imported US$1.99 billion worth of these products. This represents an increase compared to the previous period, which recorded US$1.76 billion.
2. Sugar and confectionery
Second, Indonesia's largest imports were Sugar and confectionery. Imports from Brazil in 2023 totaled US$886.95 million. This figure is up from the previous period's US$642.74 million.
3. Cereals
Next, Indonesia also recorded significant imports of Cereals from Brazil. The value of these imports in 2023 was US$493.59 million. This is an increase compared to the previous period's US$265.16 million. Imports of Cereals from Brazil were the largest. The five other countries that are major sources of Cereal imports are the United States, India, Canada, and Ukraine.
4. Mineral fuels, mineral oils and products of their distillation
Imports of Mineral fuels, mineral oils and products of their distillation amounted to US$365.87 million. The value of these imports increased compared to the previous period, which recorded US$102,000. Currently, the largest importer of Mineral fuels, mineral oils and products of their distillation to Indonesia remains Brazil. Besides Brazil, the five largest countries supplying these products to Indonesia are the United States, the United Arab Emirates, Saudi Arabia, Canada, and the Netherlands.
5. Ores, slag and ash
Indonesia imported this product from a single country. Imports of Ores, slag and ash from this country were the largest. In 2023, Indonesia imported US$203.2 million worth of these products. Other countries among the top five suppliers of this imported product to Indonesia are Chile, Peru, South Africa, and Canada.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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