Indonesia’s economy has shown remarkable resilience in the face of global uncertainties, with its trade surplus streak continuing for five consecutive years. This consistent trend highlights the nation’s strong export performance, driven by key sectors such as commodities, manufacturing, and agriculture. As the global market fluctuates, Indonesia’s ability to maintain a positive trade balance not only reflects its economic stability but also signals promising growth prospects. In this blog, we’ll delve into the factors behind this trade surplus, its impact on Indonesia’s economy, and what it means for the future.
Indonesia’s 5-Year Trade Surplus
Over the past five years, Indonesia has consistently recorded trade surpluses, reflecting its growing economic strength and integration into the global market. Indonesia trade data shows that the country recorded the highest trade surplus in 2022 in this period. Here’s an overview of Indonesia’s trade balance from 2020 to 2024:
| Year | Exports | Imports | Trade Balance |
| 2020 | 163 | 141 | 22 |
| 2021 | 231 | 195 | 36 |
| 2022 | 291 | 237 | 54 |
| 2023 | 258 | 221 | 37 |
| 2024 | 264 | 233 | 31 |
******Value USD Billion
Indonesia’s Top Imports and Exports 2024
In 2024, Indonesia’s trade dynamics showcased a blend of traditional strengths and emerging sectors. The nation’s exports and imports were diverse, reflecting its evolving role in the global economy. According to Indonesia import data, Indonesia’s top import commodities in 2024 were petroleum oils, crude petroleum oil, mobile phones, gold, and electronic integrated circuits.
According to Indonesia export data, Indonesia’s top export commodities in 2024 were coal, palm oil, ferro-alloys, petroleum gas, and copper ores. Indonesia import export data shows the following visualization of stats.
| Import Category | Value USD Billion | Export Category | Value USD Billion |
| Petroleum Oils | 21 | Coal | 30 |
| Crude Petroleum Oil | 10 | Palm Oil | 20 |
| Mobile Phones | 6 | Ferro-alloys | 14 |
| Gold | 4 | Petroleum Gas | 8 |
| Electronic Integrated Circuits | 4 | Copper Ores | 7 |
Indonesia’s Top Trade Partners 2024
In 2024, Indonesia’s trade relationships were characterized by strong ties with both regional neighbors and global economic powers. The nation’s strategic location and abundant natural resources have positioned it as a key player in international trade.
Indonesia export import data shows that Indonesia’s top import partners in 2024 were China, Singapore, Japan, United States, and Malaysia. Indonesia customs data shows that Indonesia’s top export partners in 2024 were China, United States, Japan, India, and Singapore. Indonesia shipment data highlights the following graphics containing useful stats.
| Import Partner | Value USD Billion | Export Partner | Value USD Billion |
| China | 72 | China | 62 |
| Singapore | 21 | United States | 26 |
| Japan | 14 | Japan | 20 |
| United States | 11 | India | 20 |
| Malaysia | 10 | Singapore | 12 |
Key Factors Driving the Trade Surplus
Strong Commodity Exports: Indonesia remains a major exporter of palm oil, coal, and metals, benefiting from global demand.
Manufacturing Growth: The expansion of electronics, textiles, and automotive parts exports has boosted the trade balance.
Trade Agreements: Regional deals like the RCEP have opened new markets for Indonesian products.
Global Market Dynamics: Indonesia’s diversified export base helps it adapt to shifts in global supply chains.
Impact on the Economy
Currency Stability: A strong trade surplus supports the Indonesian Rupiah, aiding economic stability.
Foreign Reserves Growth: Increased exports strengthen foreign exchange reserves.
Job Creation and Growth: Export-driven industries contribute to economic growth and employment.
Looking Ahead
While the trade surplus is a positive sign, challenges like fluctuating commodity prices and global economic slowdowns remain. Indonesia’s focus on value-added industries and digital trade will be key to sustaining growth.
This five-month trend highlights Indonesia’s economic resilience and its potential as a key player in the global economy. Access Export Genius platform for all latest updates of Indonesia’s exports and importers.
