Indonesia - Japan Trade 2023 Whole Year: Resource-for-Tech Exchange
Key Market Takeaways: Indonesia - Japan Trade
The bilateral trade relationship between Indonesia and Japan reflects growth with volatility in 2023, anchored by Indonesia’s surplus.
- $37.3B Total Trade | $4.27B Surplus: Indonesia’s exports ($20.79B) outpaced imports ($16.52B), reinforcing its net exporter role despite monthly swings.
- Resource-for-Tech Exchange: Indonesia - Japan trade statistics show energy/minerals (HS 27, 32% of exports) flow to Japan, while machinery (HS 84, 21% of imports) drives Indonesia’s industrialization.
- Asymmetric Value Chains: Japan’s high-tech exports underscore Indonesia’s dependency for critical inputs, yet mutual reliance sustains long-term complementarity.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Indonesia-Japan Trade Trend in Whole Year 2023
Indonesia Export Performance: Shipments to Japan
- Total Volume: $20.79B in 2023.
- Growth Trend & Context: Mixed YoY performance—January saw a sharp 34.11% surge, but February and March contracted (-1.7% and -3.17%, respectively). No significant news to explain fluctuations.
- Key Volatility: April recorded the steepest MoM drop (-26.93%), while May rebounded with a 27.9% MoM rise.
Indonesia Import Performance: Sourcing from Japan
- Total Volume: $16.52B in 2023.
- Growth Trend & Context: Volatile MoM swings (e.g., -34.74% in April, +60.7% in May) overshadowed flat YoY comparisons for most months. No news-driven context.
- Key Volatility: May’s 60.7% MoM surge was the highest, while September and November saw steep declines (-19.08% and -18.09% MoM).
Indonesia - Japan Trade Balance & Market Dynamics
- Net Position: Indonesia held a $4.27B trade surplus with Japan (Exports: $20.79B > Imports: $16.52B).
- Relationship Status: Indonesia maintains a clear net exporter role, though import volatility suggests fluctuating demand for Japanese goods.
Indonesia Import Trend from Japan 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 1.37B | 0.0% | -1.89% |
| Feb | 1.41B | 3.12% | 18.39% |
| Mar | 1.52B | 7.85% | -11.0% |
| Apr | 991.71M | -34.74% | 0.0% |
| May | 1.59B | 60.7% | 0.0% |
| Jun | 1.40B | -12.07% | 0.0% |
| Jul | 1.42B | 1.68% | 0.0% |
| Aug | 1.50B | 5.48% | 0.0% |
| Sep | 1.22B | -19.08% | 0.0% |
| Oct | 1.57B | 28.77% | 0.0% |
| Nov | 1.28B | -18.09% | 0.0% |
| Dec | 1.24B | -3.17% | 0.0% |
| Total | 16.52B | - | - |
Indonesia Export Trend to Japan 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 2.21B | 0.0% | 34.11% |
| Feb | 1.84B | -16.95% | -1.7% |
| Mar | 2.02B | 10.08% | -3.17% |
| Apr | 1.48B | -26.93% | 0.0% |
| May | 1.89B | 27.9% | 0.0% |
| Jun | 1.56B | -17.41% | 0.0% |
| Jul | 1.66B | 6.38% | 0.0% |
| Aug | 1.63B | -2.12% | 0.0% |
| Sep | 1.50B | -7.42% | 0.0% |
| Oct | 1.69B | 11.98% | 0.0% |
| Nov | 1.61B | -4.65% | 0.0% |
| Dec | 1.70B | 5.92% | 0.0% |
| Total | 20.79B | - | - |
Get Historical Indonesia Japan Trade Records
Indonesia-Japan Top Trading Products in Whole Year 2023
Indonesia Export Profile: What Does Indonesia Sell to Japan
- Top Commodity: Rank #1 export is HS 27 (Mineral fuels, oils) at 32.08% of total exports to Japan.
- Demand Driver: Japan imports these for energy security and industrial processing, reflecting Indonesia's role as a key energy supplier.
- Concentration: The trade is moderately concentrated, with the top 3 categories (HS 27, 26, 85) accounting for 49.19% of exports.
Indonesia Import Profile: What Does Indonesia Buy from Japan
- Top Commodity: Rank #1 import is HS 84 (Nuclear reactors, machinery) at 21.40% of total imports from Japan.
- Dependency Nature: Imports are high-tech/machinery-heavy, indicating critical technology dependency for Indonesia's industrial and infrastructure development.
Indonesia - Japan Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Indonesia supplies energy and raw materials (HS 27, 26) while Japan provides advanced machinery and equipment (HS 84, 87).
- Value Chain Position: Japan holds the higher value-add position, exporting complex machinery (HS 84, 85) versus Indonesia's commodity-driven exports (HS 27, 26).
Import Analysis by Product: Japan to Indonesia (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 3.53B | 21.40% |
| 87 | 2.68B | 16.24% |
| 72 | 2.40B | 14.52% |
| 85 | 1.48B | 8.98% |
| 99 | 821.80M | 4.98% |
| 40 | 657.62M | 3.98% |
| 39 | 611.44M | 3.70% |
| 73 | 587.04M | 3.55% |
| 90 | 412.17M | 2.50% |
| 74 | 404.22M | 2.45% |
Export Analysis by Product: Indonesia to Japan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 6.67B | 32.08% |
| 26 | 1.90B | 9.13% |
| 85 | 1.66B | 7.98% |
| 75 | 1.28B | 6.18% |
| 71 | 802.07M | 3.86% |
| 40 | 738.04M | 3.55% |
| 87 | 736.88M | 3.55% |
| 44 | 731.18M | 3.52% |
| 84 | 648.79M | 3.12% |
| 14 | 552.71M | 2.66% |
Check Detailed Indonesia-Japan Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Indonesia’s trade surplus with Japan is expected to hold steady in 2024, supported by sustained demand for energy exports (HS 27) and Japan’s reliance on Indonesian raw materials. However, volatility in monthly trade flows—particularly in machinery imports (HS 84)—suggests potential supply chain disruptions or shifting industrial demand. The Indonesia-Japan trade forecast hinges on stable commodity prices and Japan’s ability to maintain high-tech exports amid global competition. If energy prices remain elevated, Indonesia’s surplus could widen, but import volatility may pressure domestic industries reliant on Japanese machinery.
Strategic Moves
- Lock in Energy Contracts: Indonesian exporters of mineral fuels (HS 27) should secure long-term supply agreements with Japanese buyers to stabilize revenue amid fluctuating demand.
- Diversify Tech Imports: Indonesian manufacturers dependent on Japanese machinery (HS 84) must explore alternative suppliers in South Korea or Germany to mitigate sudden import drops.
- Invest in Upgraded Logistics: Both nations should prioritize port and customs efficiency to smooth out the erratic monthly trade swings, particularly for time-sensitive industrial goods.
Traders must monitor Japan’s energy policy shifts and Indonesia’s domestic infrastructure spending to anticipate demand changes.
Frequently Asked Questions
How did Indonesia - Japan trade perform in 2023 Whole Year?
Indonesia exported $20.79B to Japan and imported $16.52B, with mixed monthly growth trends but an overall $4.27B trade surplus for Indonesia.
What are the top exports from Indonesia to Japan?
The top exports are Mineral fuels and oils (HS 27), accounting for 32.08% of total exports, followed by ores (HS 26) and machinery/electrical equipment (HS 85).
What does Indonesia import from Japan?
The top imports are Nuclear reactors and machinery (HS 84), making up 21.40% of total imports, reflecting Japan’s role as a supplier of high-tech industrial goods.
What is the trade balance between Indonesia and Japan?
Indonesia maintained a $4.27B trade surplus with Japan, driven by higher exports of energy and raw materials compared to imports of machinery and technology.
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