Indonesia - Vietnam Trade 2023 Q4: $510M Surplus
Key Market Takeaways: Indonesia - Vietnam Trade
The bilateral trade relationship between Indonesia and Vietnam shows stable but volatile trade flows in Q4 2023.
- Indonesia holds a $510M surplus, exporting $1.93B (flat YoY) while importing $1.42B from Vietnam. Volatility spikes suggest seasonal adjustments.
- Indonesia - Vietnam trade statistics reveal a resource-for-tech exchange: Indonesia supplies mineral fuels (20.7% of exports) and imports cereals (14.9%) and machinery from Vietnam.
- Complementary economies—Indonesia feeds Vietnam’s industrial inputs, while Vietnam provides processed goods and agricultural products.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Indonesia-Vietnam Trade Trend in Q4 2023
Indonesia Export Performance: Shipments to Vietnam
- Total Volume: $1.93B in Q4 2023.
- Growth Trend & Context: YoY growth flat (0.0% across months). No significant policy shifts or disruptions noted.
- Key Volatility: November saw a 12.4% MoM surge, followed by a -10.88% drop in December.
Indonesia Import Performance: Sourcing from Vietnam
- Total Volume: $1.42B in Q4 2023.
- Growth Trend & Context: YoY growth flat (0.0% across months). No supply shocks or trade policy changes reported.
- Key Volatility: December imports spiked 14.85% MoM after an -11.08% dip in November.
Indonesia - Vietnam Trade Balance & Market Dynamics
- Net Position: Trade surplus of $510M (Exports $1.93B > Imports $1.42B).
- Relationship Status: Indonesia maintains a clear net exporter role, with exports 36% higher than imports. Volatility in both directions suggests seasonality in trade flows.
Indonesia Import Trend from Vietnam 2023 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 488.85M | 8.44% | 0.0% |
| Nov | 434.69M | -11.08% | 0.0% |
| Dec | 499.26M | 14.85% | 0.0% |
| Total | 1.42B | - | - |
Indonesia Export Trend to Vietnam 2023 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 617.47M | -4.98% | 0.0% |
| Nov | 694.01M | 12.4% | 0.0% |
| Dec | 618.53M | -10.88% | 0.0% |
| Total | 1.93B | - | - |
Get Historical Indonesia Vietnam Trade Records
Indonesia-Vietnam Top Trading Products in Q4 2023
Indonesia Export Profile: What Does Indonesia Sell to Vietnam
- Top Commodity: Rank #1 export is HS Code 27 (Mineral fuels, oils) at 20.70% of total exports to Vietnam.
- Demand Driver: Vietnam uses these for industrial processing, likely as energy inputs for manufacturing.
- Concentration: No single category dominates (>50% share), but the top 3 exports (HS 27, 72, 87) account for 41.75% of total exports.
Indonesia Import Profile: What Does Indonesia Buy from Vietnam
- Top Commodity: Rank #1 import is HS Code 10 (Cereals) at 14.93% of total imports from Vietnam.
- Dependency Nature: Reflects food security dependency, with cereals likely supplementing domestic agricultural supply.
Indonesia - Vietnam Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Indonesia exports raw materials (mineral fuels, metals) and imports processed goods (machinery, electronics) and agricultural products.
- Value Chain Position: Vietnam holds a higher value-add position, exporting machinery (HS 84, 85) and electronics, while Indonesia primarily supplies commodities.
Import Analysis by Product: Vietnam to Indonesia (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 10 | 212.44M | 14.93% |
| 85 | 195.80M | 13.76% |
| 72 | 158.10M | 11.11% |
| 84 | 99.55M | 7.00% |
| 39 | 96.70M | 6.80% |
| 64 | 83.82M | 5.89% |
| 48 | 48.18M | 3.39% |
| 28 | 46.01M | 3.23% |
| 60 | 42.77M | 3.01% |
| 87 | 41.46M | 2.91% |
Export Analysis by Product: Indonesia to Vietnam (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 399.44M | 20.70% |
| 72 | 223.97M | 11.60% |
| 87 | 182.40M | 9.45% |
| 15 | 148.93M | 7.72% |
| 74 | 113.39M | 5.87% |
| 85 | 98.04M | 5.08% |
| 48 | 72.34M | 3.75% |
| 03 | 65.59M | 3.40% |
| 39 | 60.44M | 3.13% |
| 84 | 52.95M | 2.74% |
Check Detailed Indonesia-Vietnam Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Indonesia-Vietnam Trade
The Indonesia-Vietnam trade relationship is expected to maintain steady growth in 2024, driven by Vietnam’s sustained demand for Indonesian mineral fuels (HS 27) and metals (HS 72) as industrial inputs. However, the recent volatility in monthly trade flows—particularly the sharp December drop in Indonesian exports—suggests potential short-term disruptions, possibly due to seasonal inventory adjustments. Given Vietnam’s higher value-add position in electronics and machinery, Indonesia should prioritize diversifying its export basket beyond raw materials to capture more value in this trade partnership.
Strategic Moves for Indonesian Traders
- Secure Long-Term Contracts for Commodities: Lock in stable pricing for key exports like mineral fuels and metals to mitigate volatility risks, especially given Vietnam’s reliance on these inputs.
- Expand into Processed Goods: Shift focus from raw material exports to semi-processed or finished goods (e.g., refined fuels, steel products) to reduce dependency on low-margin commodity trade.
- Monitor Vietnam’s Agricultural Output: With cereals (HS 10) being Indonesia’s top import from Vietnam, traders should track harvest cycles and regional supply trends to optimize procurement timing and avoid price spikes.
Frequently Asked Questions
How did Indonesia - Vietnam trade perform in 2023 Q4?
Indonesia's exports to Vietnam totaled $1.93B, while imports were $1.42B, with flat YoY growth (0.0%) for both.
What are the top exports from Indonesia to Vietnam?
The top exports are Mineral fuels and oils (HS 27), metals (HS 72), and vehicles (HS 87), accounting for 41.75% of total exports.
What does Indonesia import from Vietnam?
Indonesia primarily imports cereals (HS 10) from Vietnam, along with machinery and electronics (HS 84, 85).
What is the trade balance between Indonesia and Vietnam?
Indonesia maintained a trade surplus of $510M, with exports 36% higher than imports.
Indonesia - Vietnam Trade 2023 Q3: $460M Surplus
Indonesia's $460M trade surplus with Vietnam highlights resource-for-tech exchange. Explore Indonesia Vietnam trade trends and top trading products via yTrade data.
Indonesia - Vietnam Trade 2024 Whole Year: $0.95B Surplus
Indonesia's $0.95B trade surplus with Vietnam highlights robust 2024 trends. Key exports: mineral fuels (26%). yTrade data reveals complementary resource-for-tech exchange.
