Indonesia - Japan Trade 2024 Whole Year: $3.3B Surplus
Key Market Takeaways: Indonesia - Japan Trade
The bilateral trade relationship between Indonesia and Japan shows growth with notable volatility in 2024.
- Economic Pulse: Indonesia holds a $3.3B surplus, exporting $8.72B (Jan-May) while importing $5.42B from Japan. Mixed YoY trends highlight demand swings.
- Exchange Structure: Indonesia - Japan trade statistics reveal a resource-for-tech model: fuels and ores (43.66% of exports) flow to Japan, which supplies machinery (20.55% of imports).
- Strategic Interdependence: Highly complementary—Japan secures raw materials, while Indonesia gains industrial tech, reinforcing long-term supply chain ties.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Indonesia-Japan Trade Trend in Whole Year 2024
Indonesia Export Performance: Shipments to Japan
- Total Volume: $8.72B in 2024 (Jan-May).
- Growth Trend & Context:
- Mixed YoY performance: Sharp declines in Jan (-25.28%) and Mar (-10.44%) offset by rebounds in Apr (+5.36%) and May (+4.86%).
- No news context to explain volatility.
- Key Volatility: May saw a 27.28% MoM surge, the highest monthly jump.
Indonesia Import Performance: Sourcing from Japan
- Total Volume: $5.42B in 2024 (Jan-May).
- Growth Trend & Context:
- Predominantly negative YoY trends, with May (-34.64%) and Mar (-28.32%) as steepest contractions. Apr (+4.92%) was the lone positive.
- Key Volatility: Feb posted a 7.87% MoM rise, while Mar and Apr saw consecutive declines (-6.7%, -4.48%).
Indonesia - Japan Trade Balance & Market Dynamics
- Net Position: Surplus of $3.3B (Exports $8.72B > Imports $5.42B).
- Relationship Status: Indonesia maintains a strong net exporter role, with exports outpacing imports by 61% in the period.
Indonesia Import Trend from Japan 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 1.08B | -12.86% | -20.8% |
| Feb | 1.17B | 7.87% | -17.15% |
| Mar | 1.09B | -6.7% | -28.32% |
| Apr | 1.04B | -4.48% | 4.92% |
| May | 1.04B | 0.1% | -34.64% |
| Total | 5.42B | - | - |
Indonesia Export Trend to Japan 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 1.65B | -2.88% | -25.28% |
| Feb | 1.72B | 3.93% | -6.5% |
| Mar | 1.81B | 5.44% | -10.44% |
| Apr | 1.56B | -14.03% | 5.36% |
| May | 1.98B | 27.28% | 4.86% |
| Total | 8.72B | - | - |
Get Historical Indonesia Japan Trade Records
Indonesia-Japan Top Trading Products in Whole Year 2024
Indonesia Export Profile: What Does Indonesia Sell to Japan
- Top Commodity: Rank #1 export is HS 27 (Mineral fuels, oils) at 27.47% of total exports to Japan.
- Demand Driver: Japan imports these for energy security and industrial processing, reflecting Indonesia's role as a key supplier of raw materials.
- Concentration: The top two categories (HS 27 and HS 26, ores) account for 43.66%, indicating moderate concentration in resource exports.
Indonesia Import Profile: What Does Indonesia Buy from Japan
- Top Commodity: Rank #1 import is HS 84 (Nuclear reactors, machinery) at 20.55% of total imports from Japan.
- Dependency Nature: Dominated by high-tech machinery and capital goods, highlighting Indonesia's reliance on Japan for industrial technology and manufacturing inputs.
Indonesia - Japan Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Indonesia supplies raw materials (fuels, ores) while Japan provides advanced machinery and equipment.
- Value Chain Position: Japan holds the higher value-add position, exporting complex manufactured goods (HS 84, 85, 87) versus Indonesia's commodity-heavy exports.
Import Analysis by Product: Japan to Indonesia (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 1.11B | 20.55% |
| 87 | 786.59M | 14.51% |
| 72 | 726.66M | 13.40% |
| 85 | 541.75M | 9.99% |
| 40 | 273.95M | 5.05% |
| 39 | 230.85M | 4.26% |
| 74 | 178.46M | 3.29% |
| 73 | 176.91M | 3.26% |
| 99 | 143.82M | 2.65% |
| 90 | 140.84M | 2.60% |
Export Analysis by Product: Indonesia to Japan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 2.40B | 27.47% |
| 26 | 1.41B | 16.19% |
| 85 | 668.32M | 7.66% |
| 71 | 648.64M | 7.44% |
| 75 | 437.97M | 5.02% |
| 40 | 325.50M | 3.73% |
| 44 | 292.10M | 3.35% |
| 84 | 248.46M | 2.85% |
| 39 | 211.12M | 2.42% |
| 14 | 209.19M | 2.40% |
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 the near term, driven by sustained demand for mineral fuels (HS 27) and ores (HS 26) as Japan prioritizes energy security. However, volatility in monthly export growth signals potential supply chain disruptions or pricing fluctuations, requiring close monitoring. Meanwhile, Indonesia’s reliance on Japanese high-tech machinery (HS 84) will persist, but import declines suggest a possible shift toward alternative suppliers or domestic capacity building. Traders should prepare for a period of consolidation, with Japan likely pushing for more stable long-term commodity contracts to mitigate price swings.
Strategic Moves
- Lock in Energy Contracts: Indonesian exporters of mineral fuels and ores should secure multi-year agreements with Japanese buyers to capitalize on stable demand and reduce exposure to spot-market volatility.
- Diversify Tech Imports: Indonesian manufacturers dependent on Japanese machinery (HS 84) must explore alternative suppliers in South Korea or China to mitigate risks from Japan’s declining export momentum.
- Invest in Upgrading Commodity Exports: To reduce over-reliance on raw material sales, Indonesia should incentivize value-added processing (e.g., refining fuels or smelting ores) to capture higher margins before shipment to Japan.
Frequently Asked Questions
How did Indonesia - Japan trade perform in 2024 Whole Year?
Indonesia exported $8.72B and imported $5.42B from Japan (Jan-May 2024), with mixed YoY growth trends in both directions.
What are the top exports from Indonesia to Japan?
Mineral fuels and oils (HS 27) and ores (HS 26) dominate, accounting for 43.66% of Indonesia's exports to Japan.
What does Indonesia import from Japan?
Nuclear reactors and machinery (HS 84) lead imports, reflecting Indonesia's reliance on Japan for high-tech industrial equipment.
What is the trade balance between Indonesia and Japan?
Indonesia holds a $3.3B surplus (Jan-May 2024), with exports outpacing imports by 61%.
Indonesia - Japan Trade 2023 Q4: Balanced Growth
Indonesia's trade surplus with Japan hits $900M in Q4 2023, fueled by resource-for-tech exchange. Explore Indonesia Japan trade trends and top trading products via yTrade data.
Indonesia - Japan Trade 2024 Q1: Shrinking Surplus
Indonesia's trade surplus with Japan narrowed in Q1 2024 as both exports and imports fell. Explore Indonesia Japan trade trend and top trading products via yTrade data.
