Indonesia Import Export Data: Important Notes to take before you start trading in Indonesiaby Amit Singh Import Globals
Indonesia is the country where the service sector compensates for its gross domestic product by 43%. It is the 14th ranking largest land measured country in the world. Oil and gas industries in Indonesia are exporting to other countries and this has reduced the trade balance gap in a countable percentage per year.
The country is one of the fastest developing economies with a burgeoning consumer market driving its economic expansion. The middle class population of the country is eager for foreign goods and services, while its government is focused on important infrastructure development. Indonesia thus offers a wealth of business opportunities for international business.
Over the past decade the country has enjoyed a sudden economic growth, though less than needed to pull the country into upper middle income status. According to Indonesia Import Data, the average trade balance of the country has remained not more than 750 million dollars for past 50 years. Indonesia’s trade balance as of today is only $2 billion. So the scope of starting an import export business in Indonesia is all time high.
Here are some of Indonesia custom data statistics that you should know before you invest in Indonesia import export business. As per Indonesia Export Data, the main exports of the country are:
1. Fats produced from animals and vegetables including oils and waxes worth $20.7 billion
2. Iron, steel and other materials worth $10.8 billion
3. Electrical equipments for machinery and finished machinery products worth $9.2 billion
4. Gems, pearls, other precious metals like gold and diamond worth $8.2 billion
5. Vehicles worth $6.6 billion
6. Rubber and rubber based micro products and articles worth $5.6 billion
7. Computer, smart phone and intellectual machinery worth $5.2 billion
8. Footwear worth $ 4.8 billion
9. Paper and paper based stationery articles like notebooks $4.2 billion.
Major imports of Indonesia are:
As per Indonesia Import data, the top imports cover 70% of the total imports. Here is the list of major imports of the country:
1. Computer, Smart phone and intellectual machinery worth $21.8 billion
2. Electrical equipments for machinery and finished machinery products worth $19.1 billion
3. Oil and other mineral fuel worth $15.8 billion dollars
4. Plastic and plastic based micro accessories and articles worth $7.2 billion
5. Iron, steel and other materials worth $ 6.9 billion
6. Organic chemicals worth $5 billion
7. Vehicles worth $4.4 billion
8. Breakfast and dietary cereals worth $3 billion
9. Chemical goods worth $ 3 billion
10. Food waste, industrial waste and animal fodder worth $2.9 billion
Major Indonesia import and export partners are:
Indonesia’s top import partner is China and country depends on China for 16% of total imports. 10% of imports are covered by USA, Japan, Singapore, and India. China, Singapore, Japan, Thailand and USA are top exporting partners of Indonesia. A major chunk of 26% of the Indonesian export goes to China.
Visit the Following Page for More Information-
Created on Jan 18th 2022 12:02. Viewed 226 times.
No comment, be the first to comment.