Indonesia's Exports and Imports to Spain Decreased in 2020

Indonesia's trade balance with Spain showed a surplus of US$1.06 billion in 2020. This trade balance value increased by 7.53% compared to the previous year's balance, which was recorded at US$984.63 million.

This positive trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$1.52 billion. This value is higher than Indonesia's imports from Spain, which were recorded at US$456.83 million.

Indonesia's exports to Spain have been on a downward trend over the past year. The previous year's export value was US$1.6 billion.

Meanwhile, imports, according to Trademap data, decreased by 25.67% compared to the previous year, which was recorded at US$614.58 million.

Based on product type, there were 10 main export products from Indonesia to Spain that recorded a surplus during 2020. The total export value of these main products reached US$835.55 million.

List of 10 Main Indonesian Export Products to Spain

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


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


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


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


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


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


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


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


9. (HS 17): Sugars and sugar confectionery


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