Indonesia Imports US$900.78 Million Worth of Machinery from Korea

Indonesia recorded US$6.85 billion in imports from South Korea as of December 2020. This figure represents an 18.67% decrease compared to the previous year's imports of US$8.42 billion.

Indonesia's trade record with South Korea shows a significant decline in imports over the past 10 years. The lowest import value was US$6.67 billion, while the highest reached US$13 billion.

Of the 97 products (two-digit HS codes) imported from South Korea, 50 products were worth more than one billion dollars. Furthermore, according to Trademap data, two main products are imported annually from South Korea. This indicates a significant dependence on these imported products. The majority of other imported products (90 products) are also imported from other countries.

The following is a list of the top five products imported by Indonesia from South Korea, ordered by value of transaction (highest to lowest).

1. Electrical machinery, equipment, parts thereof

Falling under HS code 85, this product group includes electrical machinery, equipment, parts thereof; sound recorders and reproducers, television... Imports of this product from South Korea ranked first, totaling US$900.78 million. This is lower than the previous period, which exceeded US$1 billion.

2. Machinery, mechanical appliances, nuclear reactors, boilers

Falling under HS code 84, this product group includes machinery, mechanical appliances, nuclear reactors, boilers and parts thereof. Indonesia imported US$900.09 million worth of these products.

3. Iron and steel

This product is imported from 69 countries. Imports of iron and steel from South Korea ranked third at US$663.51 million in 2020. Besides South Korea, the largest importers of iron and steel to Indonesia are China, Japan, South Africa, and India.

4. Plastics and articles thereof

Ranked fourth is plastics and articles thereof (HS code 39), with imports totaling US$642.86 million. This product is imported from 110 countries. South Korea's contribution ranked fourth. Other top five suppliers of this product to Indonesia are China, Singapore, Thailand, and Malaysia.

5. Mineral fuels, mineral oils and products of their distillation

Indonesia imports this product from 62 countries. Imports from South Korea ranked ninth at US$431.93 million in 2020. Besides South Korea, the largest importers of mineral fuels, mineral oils and products of their distillation to Indonesia are Singapore, Malaysia, Saudi Arabia, the United States, and the United Arab Emirates.