2023 Aug Indonesia Global Trade Data Summary: Stable Commodity Prices

Indonesia 2023 Aug Trade Data Key Takeaways

• Market Trend: Indonesia trade data shows flat exports ($22B) and imports ($18.88B) in Aug 2023, signaling stable commodity prices.
• Key Driver: Indonesia import export data reveals resource dominance (37% exports) with fuels and fats, while machinery imports highlight industrial gaps.
• Strategic Risk: Heavy import reliance on China (27.8%) exposes upstream supply chain vulnerabilities despite diversified export markets.

Analysis covers 2023 Aug based on sanitized customs records from the yTrade database.

Indonesia 2023 Aug Trade Data Trend Overview

• Indonesia, a major Southeast Asian commodity and manufacturing hub, saw its August 2023 Indonesia global trade data reflect a period of significant price and volume equilibrium.
• The latest Indonesia import export data shows exports held at $22.00 billion, flat year-on-year, while imports also registered no change from the prior year at $18.88 billion.
• This resulted in a monthly trade surplus of $3.12 billion, continuing a long-standing trend for the resource-rich nation.
• The stasis in the headline value figures, absent any major policy shifts, points to balanced global demand and stable pricing for key Indonesian exports like palm oil, coal, and metals.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Indonesia Trade Data

Indonesia 2023 Aug Top Trading Products

Indonesia Global Trade Core Summary

Indonesia’s trade is heavily resource-driven, with mineral fuels (19.1%) and animal/vegetable fats (13.3%) dominating exports. Iron and steel (10.2%) and electrical machinery (5.7%) add some manufacturing diversity. Imports lean toward industrial inputs, with machinery (15.7%), electrical equipment (11.9%), and mineral fuels (15.7%) topping the list. The country shows a dual reliance on raw material exports and machinery imports, indicating a developing industrial base.

Key Takeaways:

• Resource exports (fuels, fats, ores) make up over 37% of total exports.
• Manufacturing exports (machinery, vehicles, footwear) are smaller but present.
• High import dependence on machinery and fuels suggests industrial gaps.

Indonesia Export-Import Structural Gap

Indonesia’s exports are raw-material heavy, while imports focus on machinery and industrial goods. This gap highlights a reliance on resource extraction rather than advanced manufacturing. The overlap in mineral fuels (both exported and imported) points to refining or processing trade. The high machinery import share signals a need for industrial upgrading to reduce dependency. The trade structure aligns with a developing economy transitioning toward value-added production.

Table: Indonesia Top Import & Export Product Categories (Source: yTrade)

Check Detailed Indonesia Trade HS Code Breakdown

Indonesia 2023 Aug Top Trading Countries

Indonesia Global Trade Key Patterns

Indonesia’s exports show moderate concentration, with Mainland China as the top destination (25.2% share, $5.54B), followed by the U.S. (9.8%, $2.15B) and India (8.4%, $1.84B). The top 10 export markets account for 75% of total exports, with strong Asian representation (7 of 10 countries). Imports are more concentrated, with Mainland China dominating (27.8% share, $5.25B), followed by Singapore (9.3%, $1.75B) and Japan (8.0%, $1.50B). Key asymmetries:

• Exports are more diversified across Asia and the U.S., while imports rely heavily on China.
• Overlapping trade partners (China, Japan, Singapore, South Korea, Malaysia, Thailand, Vietnam) suggest regional supply chain integration.
• No single export market exceeds 30% share, but China’s import share nears 30%, indicating supplier dependence.

Indonesia Export–Import Geographic Gap

Exports flow to a broader mix of markets (including the U.S. and India), while imports depend heavily on China and regional Asian suppliers. The overlap in trade partners (e.g., Singapore, Japan, Malaysia) points to two-way trade in manufactured goods or processing activities. Export destinations are more globally distributed, while import sources are regionally focused, with China as the dominant upstream supplier. This structure suggests Indonesia diversifies downstream sales but faces upstream dependency, particularly on Chinese inputs. The U.S. and India appear as export-focused partners with minimal import roles.

Table: Indonesia Top Destiantion & Origin Countries (Source: yTrade)

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Frequently Asked Questions

What are the major products exported by Indonesia in 2023 Aug?

Indonesia's top exports in August 2023 included mineral fuels and oils (19.12% share, $4.21B), animal/vegetable fats and oils (13.30%, $2.93B), and iron/steel (10.18%, $2.24B), based on HS code data.

What are the main products Indonesia imports in 2023 Aug?

Key imports were mineral fuels/oils (15.69%, $2.96B), machinery/mechanical equipment (15.69%, $2.96B), and electrical machinery (11.85%, $2.24B), per HS code analysis.

Which countries are the top destinations for Indonesia's exports in 2023 Aug?

Mainland China (27.82%, $5.25B), Singapore (9.29%, $1.75B), and Japan (7.96%, $1.50B) were Indonesia’s leading export markets in August 2023.

Which countries supply most of Indonesia's imports in 2023 Aug?

Mainland China (25.19%, $5.54B), the United States (9.77%, $2.15B), and India (8.38%, $1.84B) were the top import sources for Indonesia that month.

How balanced are Indonesia's export and import markets in 2023 Aug?

Indonesia maintained equilibrium with $22.00B exports and $18.88B imports, yielding a $3.12B surplus, reflecting stable demand for commodities like palm oil and coal.