2023 Nov Indonesia Trade Data Summary: Stability & Risks

Indonesia 2023 Nov Trade Data Key Takeaways

• Market Trend: Indonesia trade data shows flat exports ($22B) and imports ($19.59B) YoY, with a $2.41B surplus signaling stability.
• Key Driver: Indonesia import export data reveals mineral fuels (21.8% of exports) and machinery (14.9% of imports) as trade anchors.
• Strategic Risk: Heavy import reliance on China (29.4%) exposes supply chain vulnerabilities despite export diversification.

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

Indonesia 2023 Nov Trade Data Trend Overview

• Indonesia, a major Southeast Asian commodity and manufacturing hub, posted resilient November 2023 Indonesia global trade data, holding its position as a net exporter amid global demand shifts.
• November 2023 Indonesia import export data showed exports of $22.00B held flat year-on-year, while imports of $19.59B also registered no change from the prior year, indicating stable trade volumes despite external headwinds.
• The economy recorded a trade surplus of $2.41B for the month, continuing a pattern of positive net trade that supports current account stability and currency reserves.
• Trade flows were likely supported by steady demand for key exports like palm oil, metals, and textiles, though flat growth signals cautious global purchasing; ongoing trade diversification efforts under newer agreements may further bolster future performance.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Indonesia 2023 Nov Top Trading Products

Indonesia Global Trade Core Summary

Indonesia's trade is heavily resource-driven, with mineral fuels (21.8% of exports) and animal/vegetable fats (11.8%) leading exports. Iron and steel (10.4%) and electrical machinery (5.1%) add some industrial diversity. Imports are more balanced, with mineral fuels (19.2%) still dominant but machinery (14.9%) and electrical equipment (11.3%) playing larger roles. The export mix shows high concentration in raw materials, while imports lean toward machinery and processed goods. Key takeaways:

• Exports rely heavily on fuels and agricultural products.
• Industrial exports (steel, machinery) exist but are smaller.
• Imports focus on machinery and equipment, suggesting domestic manufacturing gaps.
• Overlap in mineral fuels trade indicates refining or re-export activity.
• Food imports (cereals) hint at agricultural supply challenges.

Indonesia Export-Import Structural Gap

Indonesia exports raw materials (fuels, ores, fats) and semi-processed goods (steel), while importing machinery, electronics, and plastics. This suggests a resource-based economy with limited high-value manufacturing. The overlap in mineral fuels (both top export and import) may point to refining or trade hub activities. The heavy machinery imports reveal reliance on foreign technology for industrial needs. The gap highlights opportunities to move up the value chain in sectors like steel or electrical equipment.

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

Check Detailed Indonesia Trade HS Code Breakdown

Indonesia 2023 Nov Top Trading Countries

Indonesia Global Trade Key Patterns

Indonesia's exports show moderate concentration, with Mainland China as the top destination (25.5% share, $5.6B), followed by India (9.1%), the U.S. (8.9%), and Japan (7.3%). ASEAN markets (Malaysia, Singapore, Philippines, Vietnam, Thailand) collectively account for ~20% of exports. Imports are more heavily reliant on Mainland China (29.4% share, $5.8B), with Singapore (9.6%) and Japan (6.6%) as secondary suppliers. Key asymmetries:

• Exports are Asia-centric but diversified across 10+ markets.
• Imports depend heavily on China, with limited diversification.
• Overlapping trade partners (China, Japan, U.S., ASEAN) suggest regional supply chain integration.

Indonesia Export–Import Geographic Gap

Exports reach a broader mix of advanced (U.S., Japan) and emerging (India, ASEAN) economies, while imports skew toward regional suppliers, particularly China. The overlap in key partners (e.g., China, Singapore, Japan) indicates two-way trade in manufactured goods, likely tied to processing. Import sources are narrower, with China’s share nearly 30%—a potential supply chain risk. The structure shows downstream diversification (exports) but upstream concentration (imports), typical of manufacturing-dependent economies.

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 Nov?

Indonesia's top exports in November 2023 were mineral fuels/oils (21.82% share, $4.80B), animal/vegetable fats (11.79%, $2.59B), and iron/steel (10.37%, $2.28B), based on HS code data.

What are the main products Indonesia imports in 2023 Nov?

Key imports included mineral fuels/oils (19.22%, $3.77B), machinery (14.91%, $2.92B), and electrical equipment (11.28%, $2.21B), per HS code analysis.

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

Mainland China ($5.76B, 29.42%), Singapore ($1.88B, 9.61%), and Japan ($1.28B, 6.55%) were Indonesia's largest export markets.

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

Mainland China ($5.62B, 25.54%), India ($2.01B, 9.12%), and the United States ($1.95B, 8.85%) were the top import sources.

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

Indonesia maintained a $2.41B trade surplus with flat YoY exports ($22.00B) and imports ($19.59B), reflecting stable trade volumes and net exporter status.