2023 Q3 Indonesia Global Trade Data Summary: Export Surge

Indonesia 2023 Q3 Trade Data Key Takeaways

• Market Trend: Indonesia trade data shows Q3 2023 exports surged to $63.6B, driven by strong global demand for commodities and manufactured goods.
• Key Driver: Indonesia import export data reveals China dominates trade flows (25.1% of exports, 28.4% of imports), with mineral fuels and machinery as top commodities.
• Strategic Gap: Export reliance on raw materials vs. high-value imports highlights untapped potential in domestic manufacturing and processing.

Analysis covers 2023 Q3 based on sanitized customs records from the yTrade database.

Indonesia 2023 Q3 Trade Data Trend Overview

• Indonesia, a key manufacturing and commodity export hub in Southeast Asia, demonstrated robust trade performance in Q3 2023, with its global trade data reflecting strong external demand for its diversified export basket.
• The Indonesia import export data for the quarter shows exports totaled $63.60 billion, while imports reached $55.79 billion, with August's export value surging 5.44% month-on-month before a modest correction in September.
• This trade activity resulted in a substantial quarterly surplus of $7.81 billion, underscoring the nation's continued strength in maintaining a positive balance of trade.
• The export growth was primarily driven by sustained international demand for Indonesian manufactured goods, steel, and refined agricultural products, supporting the overall economic expansion [ARC Group](#).

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Indonesia 2023 Q3 Top Trading Products

Indonesia Global Trade Core Summary

Indonesia’s trade is heavily resource-driven, with mineral fuels (20% of exports) and animal/vegetable fats (12.5%) leading its outbound shipments. Exports also include significant iron and steel (10.6%) and some manufactured goods like electrical machinery (5.8%) and vehicles (4.6%). Imports are more diversified, dominated by machinery (15.2%) and electrical equipment (11.5%), alongside mineral fuels (17.9%), suggesting reliance on industrial inputs and energy. The trade structure shows a mix of raw material exports and higher-value imports, with moderate concentration risks in key export sectors.

Key Takeaways:

• Resource dominance: Mineral fuels and agricultural fats drive exports.
• Industrial dependence: High machinery and electrical equipment imports.
• Moderate diversification: Exports include some manufacturing, but raw materials lead.

Indonesia Export-Import Structural Gap

Indonesia exports raw materials (fuels, ores, fats) but imports machinery, electronics, and industrial goods, indicating a gap between resource extraction and advanced manufacturing. The overlap in mineral fuels (both exported and imported) suggests refining or energy trade dynamics. The high import share of machinery and electrical equipment points to reliance on foreign technology. This structure highlights Indonesia’s role as a resource supplier with unmet industrial needs—opportunities lie in expanding domestic processing and upgrading manufacturing capabilities.

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

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Indonesia 2023 Q3 Top Trading Countries

Indonesia Global Trade Key Patterns

Indonesia’s trade flows show a strong reliance on Asia, with Mainland China dominating both exports (25.1%, $15.99B) and imports (28.4%, $15.86B). Export destinations are moderately diversified, with the US (9.5%), India (8.1%), and Japan (7.5%) as key markets, while imports are more concentrated among Asian suppliers like Singapore (8.5%) and Japan (7.4%). Regional trade is prominent, with ASEAN partners (Singapore, Malaysia, Vietnam, Philippines) accounting for significant shares in both directions. Key asymmetries include higher export dependence on China compared to imports, and broader export reach beyond Asia.

• Top exports: China, US, India, Japan, ASEAN.
• Top imports: China, Singapore, Japan, US, South Korea.
• Regional focus: Asia-centric, especially China and ASEAN.

Indonesia Export–Import Geographic Gap

Exports are more globally distributed, with substantial flows to the US and India, while imports remain heavily tied to Asian suppliers, particularly China. Overlapping trade partners (China, Japan, Singapore, US, South Korea) suggest processing or re-export trade. The structure indicates upstream dependency on a few Asian suppliers but downstream diversification in exports. This gap highlights Indonesia’s role as a regional trade hub with global export reach but concentrated 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 Q3?

Indonesia's top exports in Q3 2023 were mineral fuels and oils (20.01%), animal/vegetable fats (12.53%), iron and steel (10.64%), and electrical machinery (5.75%), accounting for nearly half of total export value.

What are the main products Indonesia imports in 2023 Q3?

Key imports included mineral fuels/oils (17.90%), machinery (15.21%), electrical equipment (11.45%), and iron/steel (4.86%), reflecting demand for industrial inputs and energy.

Which countries are the top destinations for Indonesia's exports in 2023 Q3?

Mainland China (28.43%), Singapore (8.51%), Japan (7.43%), and the United States (4.95%) were the leading export markets, collectively absorbing nearly half of Indonesia's exports.

Which countries supply most of Indonesia's imports in 2023 Q3?

Mainland China (25.13%), the United States (9.47%), India (8.13%), and Japan (7.53%) were Indonesia's primary import partners, supplying over half of total imports.

How balanced are Indonesia's export and import markets in 2023 Q3?

Indonesia maintained a strong $7.81 billion trade surplus in Q3 2023, with exports ($63.60B) exceeding imports ($55.79B), driven by demand for manufactured goods and commodities.

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