2023 Feb Indonesia Global Trade Data Summary: Surplus Widens

Indonesia 2023 Feb Trade Data Key Takeaways

• Market Trend: Indonesia trade data shows exports up 4.1% while imports fell 4.3%, widening surplus to $5.4B.
• Key Driver: Indonesia import export data reveals China dominates flows (25% share) with fuels and machinery driving trade.
• Strategic Risk: Raw material exports expose economy to commodity swings, while import reliance on tech limits value capture.

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

Indonesia 2023 Feb Trade Data Trend Overview

• Indonesia's export-driven economy, a key manufacturing and commodity hub in Southeast Asia, posted mixed results in its February 2023 Indonesia global trade data, reflecting ongoing global demand shifts and domestic policy adjustments.
• The Indonesia import export data for the period shows exports of $21.32 billion rose 4.1% year-on-year, while imports of $15.92 billion fell 4.3%, indicating weaker domestic investment demand for capital goods and raw materials.
• This generated a substantial trade surplus of $5.4 billion, reinforcing Indonesia's structural position as a net exporter of goods.
• The export resilience was likely supported by sustained shipments of palm oil, minerals, and manufactured goods, though broader trade flows were navigating post-pandemic realignments and anticipations of newer agreements still under negotiation at the time.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Indonesia 2023 Feb Top Trading Products

Indonesia Global Trade Core Summary

Indonesia's trade is heavily resource-driven, with mineral fuels (24.2% of exports) and animal/vegetable fats (11.6%) leading exports. Iron and steel (10.1%) and electrical machinery (6.7%) show some industrial activity, but lower-value goods like footwear (2.3%) remain minor. Imports are more diverse, dominated by machinery (14.4%), electrical equipment (12.4%), and fuels (17.1%), alongside essential goods like cereals (2.8%). The export structure is concentrated, risking price volatility, while imports reflect industrial and consumer demand.

• Key Takeaways:
  • Exports rely on raw materials (fuels, fats, metals), exposing Indonesia to commodity price swings.
  • Industrial exports (machinery, vehicles) exist but lack scale compared to resource sectors.
  • Imports highlight dependency on machinery and technology for production.
  • Food imports (cereals) signal domestic agricultural gaps.

Indonesia Export-Import Structural Gap

Indonesia exports raw materials but imports finished goods, especially machinery and electronics. The overlap in fuels (exported and imported) suggests refining or re-export activities. Steel exports (10.1%) outpace imports (5.3%), indicating a competitive sector, while machinery imports (14.4%) far exceed exports (2.4%), showing reliance on foreign technology. The gap points to unfinished industrialization—exporting resources but needing advanced imports to build manufacturing. This limits value capture in global supply chains.

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

Check Detailed Indonesia Trade HS Code Breakdown

Indonesia 2023 Feb Top Trading Countries

Indonesia Global Trade Key Patterns

Indonesia's trade flows show strong regional ties with Asia, particularly with Mainland China, which dominates both exports (24.7%, $5.26B) and imports (25.8%, $4.10B). Export destinations are moderately diversified, with the US (9.0%, $1.91B), Japan (8.6%, $1.84B), and India (7.6%, $1.61B) as key markets. Imports also rely heavily on Asian suppliers, including Japan (8.9%, $1.41B) and Singapore (8.6%, $1.36B). Regional trade dominates, with ASEAN (Singapore, Malaysia, Thailand) and East Asia (China, Japan, South Korea) accounting for most flows. Key takeaways:

• China is the top partner for both exports and imports.
• Exports are spread across Asia and the US, while imports are more Asia-centric.
• ASEAN and East Asia drive regional trade integration.

Indonesia Export–Import Geographic Gap

Exports reach a broader range of markets, including the US and India, while imports are heavily concentrated in Asia, especially China. Overlapping trade partners (China, Japan, Singapore, South Korea) suggest processing or re-export trade. The structure indicates upstream dependency on Asian suppliers but downstream diversification in exports. This gap highlights Indonesia’s role as a regional trade hub with global export reach.

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 Feb?

Indonesia's top exports in February 2023 were mineral fuels/oils (24.23% share, $5.17B), animal/vegetable fats (11.57%, $2.47B), and iron/steel (10.10%, $2.15B), based on HS code data.

What are the main products Indonesia imports in 2023 Feb?

Key imports included mineral fuels/oils (17.08%, $2.72B), machinery (14.38%, $2.29B), and electrical equipment (12.43%, $1.98B), per HS code classifications.

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

Mainland China received 25.77% ($4.10B) of Indonesia's exports, followed by Japan (8.85%, $1.41B) and Singapore (8.55%, $1.36B), according to trade data.

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

Mainland China was Indonesia's largest import source (24.69%, $5.26B), with the US (8.98%, $1.91B) and Japan (8.62%, $1.84B) as other major suppliers.

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

Indonesia recorded a $5.4B trade surplus in February 2023, with exports rising 4.1% to $21.32B while imports fell 4.3% to $15.92B, reflecting strong commodity demand.