Indonesia Import Data
08-Sep-2023
As we know, Indonesia and India have shared a close cultural and commercial relationship since the establishment of ties between the countries. India is Indonesia's second-largest trading partner in the ASEAN region. Indonesia occupies the 33rd position in FDI equity inflows into India with an aggregate amount of US$ 645.48 million, as per Indonesia Trade Data. In this blog, we will discuss the value of sugar, Indonesia's Imports from India, and the top commodities exported by Indonesia.
Indonesia is a prominent economic partner for India in Southeast Asia. With bilateral trade of approx. US$ 26.17 billion in 2021–22 and US$ 38.84 billion in 2022–23, Indonesia is the second largest trading partner for India in the ASEAN region, as per Indonesia Trade Data.
The two countries have also been working to strengthen their economic cooperation through a number of initiatives, such as the India-Indonesia Comprehensive Economic Partnership Agreement (ICEPA), which is currently under negotiation.
In addition to trade, India and Indonesia also have strong cultural and historical ties. The two countries share a common Hindu heritage, and there is a large Indian community living in Indonesia. This shared history and culture have helped create a strong foundation for the bilateral relationship.
Overall, the trade relations between India and Indonesia are strong and growing. The two countries have a lot to offer each other in terms of trade and investment, and there is a lot of potential for further cooperation in the future.
These are just some of the major imports from Indonesia to India. The actual list of imported products may vary depending on demand and supply conditions in the two countries. If you need an updated list of Indonesia suppliers and buyers, you need to Visit the IndonesiaTradeData platform to analyze the Indonesia import and export data.
Exports: Indonesia's exports in 2022–23 valued at US$315.924 billion, an increase of 22.2% from the previous year, as per Indonesia Export Data. The top three export commodities were:
Imports: Indonesia's imports in 2022–23 valued US$285.125 billion, an increase of 25.3% from the previous year, 2022–23, as per Indonesia Import Data. The top three import commodities were:
Trade balance: Based on trade data from Indonesia, the country had a trade surplus of US$30.799 billion in 2022–23, narrowing from the previous year's surplus of US$30.8 billion.
The growth in Indonesia's exports was driven by strong demand for commodities such as oil and gas, coal, and palm oil. The growth in imports was driven by the country's strong economic growth, which led to increased demand for capital goods and raw materials.
Overall, Indonesia's trade outlook is positive. The country is expected to remain a net exporter of goods in the medium term, and the trade surplus is expected to narrow gradually.
Indonesia has been importing more raw sugar from India due to a change in the Indonesian government's import regulations. The government has lowered the maximum ICUMSA (International Commission for Uniform Methods of Sugar Analysis) level for imported raw sugar from 1200 to 600. This means that Indian mills can now export raw sugar to Indonesia that would previously have been rejected.
The increased imports of raw sugar from India are expected to help meet the growing demand for sugar in Indonesia. The country's sugar consumption is expected to reach 6.2 million tons in 2023, up from 5.8 million tons in 2022.
Overall, India is a major supplier of sugar to Indonesia. The two countries have a long history of trade in sugar, and this relationship is likely to continue in the years to come.
In 2022, Indonesia imported sugar worth US$885.9 million from India, as per Indonesia Import Data. This was the second-largest source of sugar imports for Indonesia after Thailand, which exported sugar worth US$1.2 billion. India's share of Indonesia's sugar imports has been increasing in recent years, from 25% in 2017 to 30% in 2022, as per Indonesia Trade Data.
There are a few reasons why Indonesia imports sugar from India. First, India is a major sugar producer and has a surplus of sugar that it can export. Second, the price of sugar in India is generally lower than the price of sugar in Indonesia. Third, the trade relationship between India and Indonesia is strong, and there are few barriers to trade.
The import of sugar from India is expected to continue to grow in the coming years. Indonesia's domestic sugar production is not sufficient to meet the country's demand for sugar, and the government is encouraging the import of sugar to meet the shortfall. Additionally, the growing middle class in Indonesia is driving demand for sugar, which is expected to further increase the need for imports.
In conclusion, Indonesia and India have a strong trade relationship. The two countries have been working to strengthen their economic cooperation through a number of initiatives, such as the India-Indonesia Comprehensive Economic Partnership Agreement (ICEPA), which is currently under negotiation
The trade relationship between India and Indonesia is strong, and there are few barriers to trade. This is likely to continue to be the case in the coming years as the two countries work to further strengthen their economic cooperation. Looking for Indonesia Trade Data? If so, then visit indonesiatradedata.com and learn the real-time import and export data for any particular product. Don't sit on it for a long period of time! Request a free live demo right now!
