2024 Q2 Indonesia Trade Data Summary: Export Surge & Import Risks
Indonesia 2024 Q2 Trade Data Key Takeaways
- Market Trend: Indonesia trade data shows exports surged 13.8% in May, with imports up 14.8%, driven by pre-tariff stockpiling.
- Key Driver: Indonesia import export data reveals mineral fuels (22.16% of exports) and machinery (14.09% of imports) dominate trade flows.
- Strategic Risk: Heavy reliance on China for imports (29.81%) exposes supply chains to geopolitical shifts, despite export diversification.
Analysis covers 2024 Q2 based on sanitized customs records from the yTrade database.
Indonesia 2024 Q2 Trade Data Trend Overview
- As a major Southeast Asian commodity and manufacturing hub, Indonesia's Q2 2024 global trade data reflects its dual role as a resource exporter and a growing consumer market.
- The latest Indonesia import export data shows exports climbed to $22.32 billion in May, surging 13.8% from April, while imports rose 14.8% to $19.40 billion, indicating a synchronized rebound in both trade flows.
- This resulted in a trade surplus of $2.92 billion for May, maintaining Indonesia's consistent pattern of posting a positive trade balance.
- The strong sequential growth was likely driven by a pre-emptive surge in shipments ahead of anticipated U.S. tariff policies, as businesses rushed to front-load orders [Indonesia Business Post].
Table: Import Key Metrics (Source: yTrade)
| Period | Total Value | Total Qty | MoM (%) | YoY (%) |
|---|---|---|---|---|
| 202404 | 16.90B | 16.07B | - | - |
| 202405 | 19.40B | 17.91B | 14.82% | -32.51% |
Table: Export Key Metrics (Source: yTrade)
| Period | Total Value | Total Qty | MoM (%) | YoY (%) |
|---|---|---|---|---|
| 202404 | 19.62B | 57.88B | - | - |
| 202405 | 22.32B | 60.72B | 13.81% | -31.90% |
Get Historical Indonesia Trade Data
Indonesia 2024 Q2 Top Trading Products
Indonesia Global Trade Core Summary
Indonesia’s trade is heavily resource-driven, with mineral fuels (22.16% of exports) and iron/steel (10.41%) dominating exports. Other key exports include animal/vegetable fats (8.29%) and electrical machinery (5.34%), showing some diversification. Imports are more industrial, led by machinery (14.09%) and electrical equipment (12.06%), alongside mineral fuels (17.84%). The export structure suggests reliance on raw materials, while imports focus on manufacturing inputs and technology.
Key takeaways:
- Exports depend on commodities, exposing Indonesia to price volatility.
- Imports reveal a need for industrial machinery and technology.
- Limited overlap in HS codes (e.g., mineral fuels traded both ways) hints at processing trade.
- Footwear (2.57% of exports) is a notable non-resource export.
- Food imports (cereals, sugars) indicate domestic agricultural gaps.
Indonesia Export-Import Structural Gap
Indonesia exports raw materials but imports finished goods and machinery, highlighting an industrial gap. Mineral fuels are both a top export and import, suggesting refining or re-export activities. The high share of machinery and electrical equipment in imports points to reliance on foreign technology for production. Exports like iron/steel and nickel show potential for downstream manufacturing, but the import of plastics and organic chemicals reveals unfinished supply chains. This gap signals opportunities to move up the value chain in metals and agro-processing.
Table: Indonesia Top Import & Export Product Categories (Source: yTrade)
| Import HS Code | Import Description | Import Value | Import % | Export HS Code | Export Description | Export Value | Export % |
|---|---|---|---|---|---|---|---|
| 27 | Mineral fuels, mineral oils and products of the... | 6.47B | 17.84% | 27 | Mineral fuels, mineral oils and products of the... | 9.29B | 22.16% |
| 84 | Nuclear reactors, boilers, machinery and mechan... | 5.11B | 14.09% | 72 | Iron and steel | 4.37B | 10.41% |
| 85 | Electrical machinery and equipment and parts th... | 4.38B | 12.06% | 15 | Animal or vegetable fats and oils and their cle... | 3.48B | 8.29% |
| 72 | Iron and steel | 1.68B | 4.64% | 85 | Electrical machinery and equipment and parts th... | 2.24B | 5.34% |
| 39 | Plastics and articles thereof | 1.53B | 4.23% | 26 | Ores, slag and ash | 1.86B | 4.44% |
| 87 | Vehicles other than railway or tramway rolling-... | 1.37B | 3.78% | 71 | Natural or cultured pearls, precious or semi-pr... | 1.86B | 4.43% |
| 29 | Organic chemicals | 1.25B | 3.45% | 87 | Vehicles other than railway or tramway rolling-... | 1.66B | 3.95% |
| 10 | Cereals | 1.24B | 3.41% | 75 | Nickel and articles thereof | 1.52B | 3.62% |
| 17 | Sugars and sugar confectionery | 748.55M | 2.06% | 64 | Footwear, gaiters and the like; parts of such a... | 1.08B | 2.57% |
| 73 | Articles of iron or steel | 657.64M | 1.81% | 38 | Miscellaneous chemical products | 1.01B | 2.41% |
Check Detailed Indonesia Trade HS Code Breakdown
Indonesia 2024 Q2 Top Trading Countries
Indonesia Global Trade Key Patterns
Indonesia's exports show a mix of concentration and diversification. Mainland China is the top destination (22.46%, $9.42B), followed by the U.S. (9.41%, $3.94B) and India (8.97%, $3.76B). The top 10 export markets span Asia (Japan, Malaysia, Singapore, South Korea, Philippines, Vietnam, Thailand) and North America, indicating regional and global reach. Imports are more concentrated, with Mainland China dominating (29.81%, $10.82B), followed by Singapore (10.04%, $3.64B) and the U.S. (6.02%, $2.18B). Key takeaways:
- Exports are Asia-heavy but include the U.S.
- Imports rely heavily on China and Singapore.
- Trade with ASEAN neighbors (Malaysia, Thailand, Vietnam) is significant in both directions.
Indonesia Export–Import Geographic Gap
Exports are more diversified across regions, while imports depend heavily on a few suppliers, especially China. Overlapping countries like China, Singapore, and the U.S. appear in both lists, suggesting two-way trade or processing patterns. The structure shows upstream dependency (imports) and downstream diversification (exports), with ASEAN playing a key role in both flows. This gap highlights Indonesia's reliance on regional supply chains for inputs and broader markets for sales.
Table: Indonesia Top Destiantion & Origin Countries (Source: yTrade)
| Origin Country | Import Value | Import % | Destination Country | Export Value | Export % |
|---|---|---|---|---|---|
| Mainland China | 9.42B | 22.46% | Mainland China | 10.82B | 29.81% |
| United States | 3.94B | 9.41% | Singapore | 3.64B | 10.04% |
| India | 3.76B | 8.97% | United States | 2.18B | 6.02% |
| Japan | 3.54B | 8.44% | Japan | 2.08B | 5.74% |
| Malaysia | 1.99B | 4.74% | Australia | 1.82B | 5.01% |
| Singapore | 1.84B | 4.39% | Malaysia | 1.45B | 4.01% |
| South Korea | 1.83B | 4.36% | Thailand | 1.40B | 3.85% |
| Philippines | 1.68B | 4.01% | South Korea | 1.33B | 3.66% |
| Vietnam | 1.62B | 3.86% | Vietnam | 980.14M | 2.70% |
| Thailand | 1.22B | 2.91% | Brazil | 910.73M | 2.51% |
Get Complete Indonesia Trading Patner Countries Profile
Frequently Asked Questions
What are the major products exported by Indonesia in 2024 Q2?
Indonesia's top exports in Q2 2024 were mineral fuels/oils (22.16% share, $9.29B), iron/steel (10.41%, $4.37B), and animal/vegetable fats (8.29%, $3.48B), based on HS code data.
What are the main products Indonesia imports in 2024 Q2?
Key imports included mineral fuels/oils (17.84% share, $6.47B), machinery (14.09%, $5.11B), and electrical equipment (12.06%, $4.38B), per HS code analysis.
Which countries are the top destinations for Indonesia's exports in 2024 Q2?
Mainland China (29.81%, $10.82B), Singapore (10.04%, $3.64B), and the United States (6.02%, $2.18B) were the leading export markets, according to country trade data.
Which countries supply most of Indonesia's imports in 2024 Q2?
Primary import sources were Mainland China (22.46%, $9.42B), the United States (9.41%, $3.94B), and India (8.97%, $3.76B), as per country-level statistics.
How balanced are Indonesia's export and import markets in 2024 Q2?
Indonesia maintained a $2.92B trade surplus in May 2024, with exports ($22.32B) growing 13.8% and imports ($19.40B) rising 14.8% month-over-month, reflecting synchronized trade recovery.
Detailed Monthly Report
Indonesia Trade Data Snapshot 2024 APR
2024 Q1 Indonesia Trade Data Summary: Exports Decline
Indonesia's import and export data reveals a 7.1% YoY export drop in Q1 2024, with mineral fuels dominating trade flows. Insights from yTrade highlight muted global demand.
2025 Apr Indonesia Trade Data Summary: Surplus Narrows
Indonesia import and export data reveals a 5.8% export rise but a 21.8% import surge, narrowing the surplus to $150M. Mineral fuels and machinery dominate trade flows, with China as a key supplier. Source: yTrade.
