Indonesia-Thailand Trade Grew by 40% in 2021

Trade in goods between Indonesia and Thailand rebounded in 2021 from the slump caused by the Covid-19 pandemic, in line with the economic recovery in each country.

According to the United Nations Comtrade database, the value of trade in goods between Indonesia and Thailand in 2021 reached US$16.23 billion, a 40.04% increase year-on-year (yoy).

Thailand contributed 3.8% to the total value of Indonesia's goods trade in 2021, making it one of Indonesia's main trading partners.

In 2021, Indonesia recorded a trade deficit with Thailand of US$2.05 billion. This deficit widened from US$1.37 billion in the previous year.

The value of Indonesian goods exported to Thailand in 2021 grew by 38.74% (yoy) to US$7.09 billion. The following are the five main export commodities to that country:

* Oil;
* Coal;
* Copper;
* Beans; and
* Vehicle parts.

On the other hand, the value of goods imported from Thailand in 2021 grew by 41.06% (yoy) to US$9.14 billion. The following are the five main commodities imported by Indonesia from Thailand:

* Sugar;
* Machinery;
* Vehicle parts and accessories;
* Vehicles; and
* Ethylene polymers.

(Also read: Before Legalizing Cannabis, Thailand Purchased Many Medicinal Plants from Indonesia)