2023 Mar Indonesia Trade Data Summary: Export Slump

Indonesia 2023 Mar Trade Data Key Takeaways

• Market Trend: Indonesia trade data shows exports down 11.6% YoY, imports fell 6.3%, reflecting global demand softening.
• Key Driver: Indonesia import export data reveals mineral fuels (25.2% of exports) and China (25.2% share) dominate trade flows.
• Strategic Risk: Export reliance on raw materials and import dependence on machinery expose vulnerability to commodity shocks.

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

Indonesia 2023 Mar Trade Data Trend Overview

• Indonesia, a major commodity and manufacturing export hub, saw its global trade flows in March 2023 reflect a cautious global demand environment, according to the latest Indonesia global trade data.
• The Indonesia import export data for the period shows exports of $23.41 billion, down 11.64% year-on-year, while imports of $20.59 billion fell 6.26% annually, indicating a broad-based softening in both outbound and inbound trade volumes.
• This resulted in a trade surplus of $2.82 billion, continuing a trend of positive net exports but at a moderated level compared to stronger prior-year performances.
• The contraction aligns with broader 2023 headwinds including slower global growth and adjusted commodity prices, though Indonesia's pursuit of trade pacts—such as ongoing negotiations with the EU—aims to bolster long-term export resilience and market access [Indonesia - Trade Agreements].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Indonesia 2023 Mar Top Trading Products

Indonesia Global Trade Core Summary

Indonesia's trade is heavily resource-driven, with mineral fuels (25.15%) and iron/steel (9.80%) dominating exports. Animal/vegetable fats (9.43%) and electrical machinery (5.41%) add diversity, but raw materials clearly lead. Imports focus on machinery (12.86%), electrical equipment (12.44%), and fuels (16.88%), showing reliance on industrial inputs and energy. The export structure is concentrated in primary goods, while imports lean toward manufacturing and technology.

Key takeaways:

• Exports depend on fuels and metals, exposing Indonesia to commodity price swings.
• Imports reveal gaps in high-value production, requiring machinery and tech from abroad.
• Limited export diversification beyond raw materials poses long-term risks.

Indonesia Export-Import Structural Gap

Indonesia exports raw materials but imports finished goods, highlighting an industrial gap. Fuel exports (HS 27) exceed imports, but machinery (HS 84, 85) and vehicles (HS 87) flow inward, showing reliance on foreign manufacturing. Overlapping HS codes (e.g., iron/steel) suggest some domestic processing, but high-value-added sectors remain weak. The trade pattern fits a resource-rich economy with untapped industrial potential. Upgrading processing capabilities could reduce import dependence.

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

Check Detailed Indonesia Trade HS Code Breakdown

Indonesia 2023 Mar Top Trading Countries

Indonesia Global Trade Key Patterns

Indonesia's export destinations show moderate concentration, with Mainland China as the top market (25.2% share, $5.90B), followed by Japan (8.6%), the U.S. (8.4%), and India (7.3%). ASEAN neighbors like Malaysia, Singapore, and Thailand collectively account for 12.8% of exports, indicating regional trade ties. Imports are more concentrated, with Mainland China dominating (27.8% share, $5.72B), while Japan, Singapore, and ASEAN suppliers (Malaysia, Thailand) contribute 25.4% combined. Key asymmetries:

• China dominates both sides, but import reliance (27.8%) exceeds export dependence (25.2%).
• ASEAN is pivotal for exports (12.8%) and imports (18.1%), highlighting regional integration.
• Top 5 partners (China, Japan, U.S., Singapore, Malaysia) appear in both lists, suggesting two-way trade flows.

Indonesia Export–Import Geographic Gap

Exports are more diversified, with the top 3 markets (China, Japan, U.S.) holding 42.3% share versus imports, where China alone nears 28%. Overlapping partners (e.g., China, Japan, Malaysia) point to processing trade or component exchange. The structure shows upstream dependency (imports concentrated in China/ASEAN) and downstream diversification (exports spread across Asia and the U.S.). Imports lean regional (ASEAN + China = 45.9%), while exports balance regional and global demand.

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 Mar?

Indonesia's top exports in March 2023 were mineral fuels and oils (25.15% share, $5.89B), iron and steel (9.80%, $2.29B), and animal/vegetable fats (9.43%, $2.21B), based on HS code data.

What are the main products Indonesia imports in 2023 Mar?

Key imports included mineral fuels/oils (16.88%, $3.48B), machinery (12.86%, $2.65B), and electrical equipment (12.44%, $2.56B), per HS code analysis.

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

Mainland China (27.79%, $5.72B), Japan (7.38%, $1.52B), and Singapore (7.07%, $1.46B) were the leading export destinations, according to country trade data.

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

Mainland China (25.21%, $5.90B), Japan (8.64%, $2.02B), and the United States (8.41%, $1.97B) were the primary import sources, as per country-level statistics.

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

Indonesia maintained a $2.82B trade surplus despite exports declining 11.64% YoY to $23.41B and imports falling 6.26% to $20.59B, reflecting moderated but positive net trade flows.