2023 Sep Indonesia Trade Data Summary: Flat Exports, $3.4B Surplus

Indonesia 2023 Sep Trade Data Key Takeaways

• Market Trend: Indonesia trade data shows flat exports ($20.74B) and imports ($17.34B) in Sep 2023, maintaining a $3.4B surplus.
• Key Driver: Indonesia import export data reveals China dominates trade (26% exports, 29% imports), with fuels and machinery as top HS codes.
• Strategic Risk: Export reliance on raw materials (31% from fuels/fats) exposes economy to commodity price swings.

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

Indonesia 2023 Sep Trade Data Trend Overview

• Export-driven Southeast Asian powerhouse posted steady September 2023 Indonesia global trade data, reflecting its established role as a key global supplier of commodities and manufactured goods.
• The latest Indonesia import export data shows exports held at $20.74 billion, flat year-on-year, while imports also registered no growth at $17.34 billion.
• This resulted in a solid trade surplus of $3.4 billion for the month.
• The flat performance suggests a period of consolidation, likely influenced by stable global commodity demand and domestic policy measures aimed at managing import levels.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Indonesia 2023 Sep 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, making up nearly 31% of total export value. Iron and steel (HS 72) also play a key role, contributing 11%. Imports are more diversified, led by mineral fuels (HS 27) and machinery (HS 84, 85), which account for over 45% of imports. The country relies on machinery and electrical equipment for industrial needs while exporting raw and semi-processed goods.

Key takeaways:

• Exports are concentrated in fuels, fats, and metals, exposing Indonesia to commodity price swings.
• High machinery imports suggest reliance on foreign technology for production.
• Limited high-value finished goods in exports highlights a need for industrial upgrading.

Indonesia Export-Import Structural Gap

Indonesia’s trade shows a clear split: it exports raw materials (fuels, ores, fats) but imports machinery and equipment for processing and manufacturing. The overlap in HS 27 (mineral fuels) for both exports and imports suggests some refining or re-export activity. However, the heavy machinery imports (HS 84, 85) indicate a gap in domestic industrial capacity. The lack of high-tech exports points to untapped potential in moving up the value chain. This structure positions Indonesia as a resource supplier with growing dependency on imported manufacturing inputs.

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

Check Detailed Indonesia Trade HS Code Breakdown

Indonesia 2023 Sep Top Trading Countries

Indonesia Global Trade Key Patterns

Indonesia's trade flows show strong regional ties with Asia, particularly with Mainland China, which dominates both exports (25.9% share, $5.38B) and imports (28.6% share, $4.96B). Export destinations are moderately diversified, with the US (8.9%), Japan (7.3%), and India (7.2%) as key secondary markets, while imports rely heavily on Asian suppliers like Singapore (8.9%), Japan (7.0%), and South Korea (5.0%). Regional trade is prominent, with ASEAN neighbors (Singapore, Malaysia, Vietnam, Philippines) appearing in both export and import top 10 lists. Key asymmetries include higher export reliance on India and the US compared to imports, while energy suppliers (Saudi Arabia, Australia) feature only on the import side.

• Mainland China is the top partner for both exports and imports.
• Exports are more diversified than imports, with stronger US and India ties.
• ASEAN trade is bidirectional, with Singapore, Malaysia, and Vietnam as key hubs.
• Energy imports (Australia, Saudi Arabia) highlight resource dependencies.

Indonesia Export–Import Geographic Gap

Exports reach a broader mix of markets (including distant partners like the US and India), while imports are more concentrated in Asia, suggesting downstream diversification but upstream supplier reliance. Overlapping countries (China, Japan, Singapore, South Korea, Malaysia, Vietnam) indicate processing trade or regional supply chain integration. The structure points to Asia-centric sourcing for manufacturing inputs, with finished goods flowing to both regional and global markets. The absence of Western suppliers in top import origins (except the US at 4.8%) contrasts with stronger export ties to Western economies. This gap implies Indonesia’s trade is shaped by regional production networks and global demand for its exports.

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 Sep?

Indonesia's top exports in September 2023 included mineral fuels/oils (19.96% share, $4.14B), animal/vegetable fats (11.20%, $2.32B), and iron/steel (11.16%, $2.32B), based on HS code data.

What are the main products Indonesia imports in 2023 Sep?

Key imports were mineral fuels/oils (20.56% share, $3.57B), machinery (15.05%, $2.61B), and electrical equipment (10.59%, $1.84B), per HS code analysis.

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

Mainland China ($4.96B, 28.58%), Singapore ($1.54B, 8.86%), and Japan ($1.22B, 7.01%) were Indonesia's leading export markets in September 2023.

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

Indonesia primarily imported from Mainland China ($5.38B, 25.91%), the United States ($1.84B, 8.86%), and Japan ($1.50B, 7.25%) during this period.

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

Indonesia maintained a $3.4B trade surplus in September 2023, with flat year-on-year exports ($20.74B) and imports ($17.34B), indicating stable commodity demand and import management.