What are the top 10 import products of Indonesia?

Indonesia, the world's fourth most populated country, has a robust economy that is primarily reliant on home manufacturing as well as foreign trade. While Indonesia is well-known for its exports of commodities such as palm oil, rubber, and textiles, it also imports a large number of items to power its economic engine. According to Indonesia trade data, Indonesia is also a large supplier of natural resources such as oil and gas, minerals, and agricultural items. In this blog, we will look at Indonesia's top imports and trade patterns.

Is Indonesia a rising economy?

Indonesia, a developing Southeast Asian giant with a GDP of more than US$1 trillion, is leading the ASEAN area. It was one of the few countries to emerge from the COVID Delta version with a booming GDP in 2021, growing by 3.7%. The economy accelerated further in 2022, with a 5.3% year-on-year increase.

According to global import export data, the top five trading partners of Indonesia are mainland China, the United States, Japan, India, and Malaysia. It also maintains long-standing economic and investment ties with Japan, Singapore, South Korea, and Hong Kong. In 2021, about 10% of Indonesia's exports were destined for Europe. It also has a significant trading relationship with the United Kingdom, which regards Indonesia as a vital strategic partner.

Indonesia Import Data: A Brief Overview:

In 2022, Indonesia will import $237.4 billion in goods from around the world, a 25.8% increase from $188.7 billion in 2018. As per Indonesia import data, the total cost of Indonesian imports increased by 21.3% year on year, from $195.7 billion in 2021.

The Indonesian rupiah has fallen by -4.3% against the US dollar since 2018 and by -3.8% from 2021 to 2022, according to the average exchange rate for 2022. When converted to the Indonesian rupiah, Indonesia's imports paid for in the considerably stronger US dollar became more expensive.

According to Indonesia Importer Data, Indonesia's imports in 2022-23 were valued at US$285.125 billion, a 25.3% increase over the previous year. The following were the top three import commodities:

• Machinery and equipment (26.3%)

• Chemicals (11.7% of total)

• Mineral fuels, lubricants, and related substances (11.4%)

The Indonesian government, on the other hand, is attempting to shift the country's exports and imports away from commodities and towards higher-value-added items. This would help Indonesia's economy become more resilient to shocks and create more jobs. 

Top 10 Import Products of Indonesia

Indonesia, the world's fourth most populated country, has a robust economy that is primarily reliant on home manufacturing as well as foreign trade. While Indonesia is well-known for its exports of commodities such as palm oil, rubber, and textiles, it also imports a large number of items to power its economic engine.

Here is a list of Indonesia's top ten import products:

• Oil and other mineral fuels account for US$44.9 billion (18.9% of all imports).

• Computer and electronic equipment: $31.6 billion 

• Electrical equipment and machinery: $26.4 billion 

• Steel and iron: $13.9 billion 

• Materials made of plastic: $11.1 billion 

• Transportation: $9.5 billion 

• organic chemicals, $7.7 billion 

• Waste from the food industry and animal feed: $4.6 billion 

• cereal sales $4.5 billion 

• Iron or steel products: $4 billion 

The top ten imports from other nations accounted for two-thirds (66.6%) of the total value of Indonesia's purchases from other countries. Mineral fuels, including oil (up 55.7%), vehicles (up 41.7%), products composed of iron or steel (up 27%), and machinery, including computers (up 22.2%) were the top gainers among Indonesia's top ten import categories from 2021 to 2022. 

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Top 10 Import Partners of Indonesia:

The following are Indonesia's top ten import partners, listed by import value, as of 2023:

These ten countries account for more than 70% of Indonesia's total imports. China continues to be the most important import partner, followed by the United States and Japan. This highlights Indonesia's significant economic relationships with these countries, particularly in terms of trade and investment.

Indonesian Trade Trends:

In recent years, Indonesia's booming economy and burgeoning middle class have fuelled consistent growth in imports. According to Indonesia trade data, the biggest trading partners of Indonesia are China, Singapore, Japan, the United States, and Malaysia.

China is Indonesia's largest import source, accounting for more than 20% of overall imports. According to Indonesia import data, Singapore is Indonesia's second-largest import source, accounting for more than 10% of total imports. Indonesia also imports heavily from Japan, the United States, and Malaysia.

According to a survey, ongoing expansion in Indonesia's imports would be driven by economic growth and rising demand for imported goods in the next  few years.

How to find Indonesia importers Data?

ExportImportData.in is a leading platform that provides its esteemed clients with the most dependable and accurate Indonesia importer data. It is the best market research platform that provides import and export data and offers authentic information about global trade.  

Conclusion

The rising demand for imported goods in Indonesia creates a substantial potential for companies who can supply these commodities to the Indonesian market. Because Indonesia is a free trade country, firms can import and export goods more readily.

If you are a marketer or trader looking to enhance your company's sales in Indonesia, India, or other countries, contact us right away to obtain access to global import export data. For additional information, please visit our website, ExportImportData.in or contact us at sales@exportimportdata.in.