2023 Jul Indonesia Global Trade Data Summary: Stability & Risks

Indonesia 2023 Jul Trade Data Key Takeaways

• Market Trend: Indonesia trade data shows flat YoY growth with a $1.29B surplus, signaling post-pandemic stability.
• Key Driver: Indonesia import export data reveals resource-heavy exports (fuels, fats) and industrial import reliance (machinery, electronics).
• Strategic Risk: High export concentration (top 10 = 60% value) exposes Indonesia to commodity price swings.

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

Indonesia 2023 Jul Trade Data Trend Overview

• Indonesia, a major Southeast Asian commodity and manufacturing hub, posted robust Indonesia global trade data for July 2023, reflecting its strategic role in global supply chains for resources and intermediate goods.
• The monthly Indonesia import export data showed exports at $20.86 billion and imports at $19.57 billion, with both flows holding flat year-on-year, indicating a period of price and volume stability after the volatile post-pandemic period.
• This resulted in a trade surplus of $1.29 billion, reinforcing the nation's consistent pattern of net trade gains driven by its export-oriented economic structure.
• The flat year-on-year performance suggests a normalization of trade flows, likely supported by government efforts to streamline import regulations and secure new market access through bilateral agreements, though specific 2023 policy citations are unavailable for this period.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Indonesia 2023 Jul Top Trading Products

Indonesia Global Trade Core Summary

Indonesia’s trade is heavily resource-driven, with mineral fuels (HS 27) and animal/vegetable fats (HS 15) dominating exports at 34% combined. Iron and steel (HS 72) and electrical machinery (HS 85) add industrial diversity, but exports remain concentrated in raw and semi-processed goods. Imports are more balanced, led by mineral fuels (HS 27), machinery (HS 84), and electrical equipment (HS 85), reflecting reliance on industrial inputs and energy. The top 10 exports account for over 60% of total export value, indicating high concentration risks.

Key takeaways:

• Resource exports (fuels, fats, metals) drive trade but expose Indonesia to commodity price swings.
• Industrial imports (machinery, electronics) suggest manufacturing dependency on foreign technology.
• Export diversification beyond raw materials is limited, with low value-added goods like footwear (HS 64) making minor contributions.

Indonesia Export-Import Structural Gap

Indonesia exports raw materials (fuels, fats, metals) but imports machinery and electronics for processing, highlighting a reliance on foreign manufacturing capacity. Overlap in HS 27 (mineral fuels) for both exports and imports suggests some domestic refining or re-export activity. The gap between exported iron/steel (HS 72) and imported machinery (HS 84) points to unfinished industrial upgrading—selling raw materials while buying finished equipment. Cereals (HS 10) and food waste (HS 23) imports reveal agricultural supply chain gaps. This structure positions Indonesia as a resource supplier with unmet industrial and food security needs.

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

Check Detailed Indonesia Trade HS Code Breakdown

Indonesia 2023 Jul Top Trading Countries

Indonesia Global Trade Key Patterns

Indonesia’s trade flows show a strong reliance on Asia, with Mainland China dominating both exports (24.3%) and imports (28.9%). Export destinations are moderately diversified, with the US (9.8%), India (8.8%), and Japan (8.0%) as key markets, while imports also depend heavily on Singapore (7.4%) and Japan (7.3%). Regional trade is prominent, with ASEAN partners (Singapore, Malaysia, Philippines, Vietnam) accounting for significant shares. Key asymmetries include higher export diversification compared to imports, which lean more on China.

• Top export markets: China, US, India, Japan, Singapore.
• Top import sources: China, Singapore, Japan, South Korea, US.
• Regional focus: Asia-centric, with ASEAN and East Asia as major partners.
• Trade imbalance: Heavy import dependence on China.

Indonesia Export–Import Geographic Gap

Exports are more globally distributed, while imports are concentrated in fewer Asian suppliers. Overlapping countries like China, Japan, Singapore, and the US appear in both lists, suggesting processing trade or two-way commerce. The structure indicates upstream dependency (imports from China, Japan) and downstream diversification (exports to varied markets). Imports are more regional (Asia-heavy), while exports reach broader destinations, including the US and India. This gap highlights Indonesia’s role as a supplier to global markets but reliant on regional input sources.

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 Jul?

Indonesia's top exports in July 2023 were mineral fuels and oils (20.99%), animal/vegetable fats and oils (13.04%), iron and steel (10.60%), electrical machinery (5.93%), and vehicles (4.60%), based on HS code data.

What are the main products Indonesia imports in 2023 Jul?

Key imports included mineral fuels and oils (17.66%), nuclear/machinery equipment (14.90%), electrical machinery (11.82%), vehicles (4.77%), and iron/steel (4.54%), per HS code analysis.

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

Mainland China (28.89%), Singapore (7.44%), Japan (7.28%), South Korea (5.05%), and the United States (4.82%) were the leading export destinations, according to country trade data.

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

Mainland China (24.30%), the United States (9.76%), India (8.75%), Japan (7.96%), and Singapore (5.15%) dominated Indonesia's import sources, as per country-level statistics.

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

Indonesia recorded a $1.29 billion trade surplus in July 2023, with exports at $20.86 billion and imports at $19.57 billion, reflecting stable post-pandemic trade flows.