2023 Oct Indonesia Global Trade Data Summary: Flat Growth

Indonesia 2023 Oct Trade Data Key Takeaways

• Market Trend: Indonesia trade data shows flat YoY exports ($22.14B) and imports ($18.67B) in Oct 2023, maintaining a $3.47B surplus.
• Key Driver: Indonesia import export data reveals mineral fuels (21.6% of exports) and China (27.2% export share) as top product/partner.
• Strategic Risk: Commodity-driven exports and import concentration in Asia expose economy to price swings and supply chain bottlenecks.

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

Indonesia 2023 Oct Trade Data Trend Overview

• Indonesia, a major Southeast Asian commodity and manufacturing hub, posted resilient October 2023 Indonesia global trade data, reinforcing its role as a net exporter.
• The October 2023 Indonesia import export data showed exports valued at $22.14 billion, flat year-on-year, while imports totaled $18.67 billion, also unchanged from the prior year.
• This resulted in a monthly trade surplus of $3.47 billion, maintaining a consistent positive balance.
• The stability in both export and import values reflects steady global demand for key Indonesian commodities like palm oil and minerals, coupled with managed domestic import needs.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Indonesia Trade Data

Indonesia 2023 Oct Top Trading Products

Indonesia Global Trade Core Summary

Indonesia's trade is heavily resource-driven, with mineral fuels (21.6%), iron and steel (11.1%), and animal/vegetable fats (11%) dominating exports. These three categories alone make up nearly half of total exports, showing high concentration. Imports are more diversified, led by mineral fuels (18.9%), machinery (15.5%), and electrical equipment (11.9%), indicating reliance on industrial inputs and energy. Key takeaways:

• Exports depend on raw materials, exposing Indonesia to commodity price swings.
• Top imports suggest manufacturing needs machinery and components.
• Limited high-value finished goods in exports highlights an opportunity for industrial upgrading.

Indonesia Export-Import Structural Gap

Indonesia exports raw materials but imports machinery and equipment, a classic resource-based economy pattern. The overlap in mineral fuels (both top export and import) suggests some refining or re-export activity. The high share of machinery imports points to underdeveloped domestic manufacturing capacity. This gap shows Indonesia could benefit from moving up the value chain, especially in metals and fuels. The trade structure aligns with a developing economy reliant on commodities but needing industrial inputs.

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

Check Detailed Indonesia Trade HS Code Breakdown

Indonesia 2023 Oct Top Trading Countries

Indonesia Global Trade Key Patterns

Indonesia's export destinations show moderate concentration, with Mainland China as the dominant market (27.2% share, $6.02B). Other key buyers include India (8.5%), the U.S. (8.3%), and Japan (7.6%), followed by ASEAN neighbors like the Philippines, Singapore, and Malaysia. Imports are more concentrated, with Mainland China supplying 28.9% ($5.39B), Singapore 10.4%, and Japan 8.4%. Regional trade is strong, with 6 of the top 10 import sources and 5 of the top 10 export destinations in Asia. Key takeaways:

• Heavy reliance on China for both exports and imports.
• ASEAN-centric trade, with Singapore, Malaysia, and Thailand prominent in both flows.
• Diversified exports to major economies (U.S., India, Japan) alongside regional partners.
• Import concentration risk, with China, Singapore, and Japan supplying nearly half of imports.

Indonesia Export–Import Geographic Gap

Exports are more globally distributed, reaching advanced (U.S., Japan) and emerging (India, ASEAN) markets, while imports lean heavily on Asian suppliers, particularly China. Overlapping countries like China, Japan, Singapore, and Malaysia suggest processing trade or regional supply chain integration. The structure indicates upstream dependency (imports concentrated in a few Asian hubs) and downstream diversification (exports spread across multiple regions). Notably, the U.S. is a top export destination but a minor import source, highlighting an asymmetric trade relationship. This gap underscores Indonesia’s role as a regional supplier with broader export reach than import sourcing.

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 Oct?

Indonesia's top exports in October 2023 were mineral fuels and oils (21.58% share, $4.78B), iron and steel (11.06%, $2.45B), and animal/vegetable fats (10.99%, $2.43B), based on HS code data.

What are the main products Indonesia imports in 2023 Oct?

Key imports included mineral fuels/oils (18.87%, $3.52B), machinery (15.54%, $2.90B), and electrical equipment (11.90%, $2.22B), per HS code classifications.

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

Mainland China ($5.39B, 28.88%), Singapore ($1.94B, 10.36%), and Japan ($1.57B, 8.39%) were the leading export markets.

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

Mainland China ($6.02B, 27.17%), India ($1.87B, 8.46%), and the United States ($1.83B, 8.25%) were the primary import sources.

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

Indonesia maintained a $3.47B trade surplus in October 2023, with exports ($22.14B) and imports ($18.67B) both stable year-on-year, reflecting steady commodity demand and controlled imports.