Indonesia accounts for about 22.25% of world exports in raw materials’ commodities, while for imports it accounts for about 12.65% as per WITS Statistics 2019. Indonesia is the net importer of crude oil, imported worth around $13 million in 2019. On the other hand, it is a net exporter of coal, exported worth around $13.5 million in 2019.
Indonesia trade records show an upward trend in its overall exports to the world for 2021. While it is true that exports are increasing for Indonesia in 2021 and might increase further in 2022, the recently imposed ban on coal exports can affect the values of Indonesian exports.
Pandemic Drove The Exports
Several factors contribute to the rising exports for Indonesia during the pandemic in 2020. While imports were less and domestic demand decreased due to the restrictions in various activities, exports grew significantly from all over the world. Exports of commodities such as coal, palm oil, copper, tin, and steel grew quite substantially for the entire period of 2020.
Below represents data highlighting the top exported commodities from Indonesia to other countries for 2020, giving an evaluation of the top demanded commodities of Indonesia. According to the shown Indonesia export data 2020, the highest commodity (in Chapters’ classification of HS Code) was “Mineral Fuels and Oils” with an export value of $25.57 billion. For the rest of the commodities and their export values, check the below-shown data carefully.
Rising Indonesia Exports
Pandemic drove the Indonesian exports further, and post-pandemic figures claim that it still hasn’t settled down, as of now. Cross border demand for several commodities, ranging from raw materials to consumer goods, has increased, bringing imports increasing as well.
Indonesia import-export data represented below shows the accounts of Indonesia imports and exports for the year ended of 2020 till June 2021 in consolidated figures by quarters’ division. From the shown Indonesia trade data, it is projected that imports have significantly increased, while exports have seen fluctuation till the third quarter of 2020 as they also increased thereafter. Observe the below-shown figures to evaluate the Indonesian trade trends.
Coal Ban and Exports
As aforementioned, the coal exports of Indonesia accounts for about 14% of overall exports. The imposed ban on coal exports to prevent power outages. Below shown Indonesia coal exports represent Indonesia coal exports with the division of months in quarters, with their values.
Although coal exports from Indonesia are easing out right now after the calls from bilateral trade partners for coal, it still will take time for Indonesia to come to a normal state of maintaining the coal exports flow.
According to our trade data experts, since the coal exports of Indonesia account for about 14% of its overall exports, it might be difficult for the global market of coal demanding countries to manage the stock for the energy commodity. Economists claim that it might impact Indonesia trade balance and will bring deficit, instability, and uncertainty.
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