How much goods does Indonesia import?
![Image](https://www.apsense.com/blog_photo/20231102/1698927662170346.jpg)
Introduction
Indonesia is a country known for its
thriving economy and diverse trading activities. As a major player in the
global market, Indonesia has a significant impact on international trade. One
crucial aspect of its trade relations is the import of goods. The country has a
significant import sector, which contributes to its overall economic growth and
development. According to the Indonesia trade data, the imported goods from
Indonesia accounted for $237.52 billion in 2022, an increase of 21.07% from the
previous year. The total value of imports to Indonesia increased from 2021 to
2022 by 26.1%, reaching $231.6 billion. In this article, we will get detailed
information about the amount of goods that Indonesia imports and analyze the
latest Indonesia import data for 2022.
What does Indonesia's Import Market signify?
Before
delving into the specific figures, it is important to grasp the significance of
Indonesia's import market. With a population of over 270 million people,
Indonesia relies heavily on imported goods to meet the demands of its vast
consumer base. From raw materials to finished products, imports play a crucial
role in various sectors of the Indonesian economy. According to the Indonesia
import data in the customs database, the total value of imports in 2022 reached
$237.52 billion. The customs database contains all the Indonesian import
details covered such as HS code, importer name, unit, value, port, and more. These
imports are pivotal for various diligences in Indonesia, ranging from
manufacturing to structure development.
Overview of Indonesia's Total Imports in 2022
1.
Total Import Value: In the year 2022, the total value of goods imported by
Indonesia amounted to $237.52 billion.
2.
Year-on-Year Growth: When compared to the previous year, the import value
witnessed a 21.07% increase, highlighting Indonesia's growing reliance on
foreign goods.
Indonesia’s monthly Import data and trade balance in 2022.
Month |
Import value (USD million) |
Trade Balance (USD million) |
January |
$18,211 |
962 |
February |
$16,638 |
3,834 |
March |
$21,962 |
4,535 |
April |
$19,757 |
7,575 |
May |
$18,609 |
2,900 |
June |
$21,003 |
5,147 |
July |
$21,345 |
4,218 |
August |
$22,150 |
5,712 |
Key Import Categories
·
Mineral Fuels and Oils 18.9% ($44.9 billion): As an archipelago with
limited oil and gas reserves, Indonesia heavily depends on imported mineral
fuels and oils to meet its energy demands.
·
Machinery and Electrical Equipment 11.1% ($26.4 billion): This category constitutes
a significant portion of Indonesia's imports. The country relies heavily on
imported machinery and electrical equipment to support its manufacturing and
industrial sectors.
·
Vehicles and Automotive Parts 4% ($9.5 billion): The automotive industry
is a vital sector in Indonesia to support the production of vehicles and meet
consumer demands.
Top imports of Indonesia in 2022 include:
1.
oil fuels and other mineral energies $44.9 billion (18.9%).
2.
Computer and electronic apparatus $31.6 billion (13.3%)
3.
Electrical apparatus and machinery $26.4 billion (11.1%%)
4.
steel and iron $13.9 billion (5.9%)
5.
Accoutrements made of plastic $11.1 billion (4.7%).
6.
Transportation and vehicles $9.5 billion (4%)
7.
organic chemicals $7.7 billion (3.2%)
8.
Waste from the food assiduity and animal fodder $4.6 billion (1.9%)
9.
Cereals $4.5 billion (1.9%)
10.
Iron or steel products $4 billion (1.7%)
Major Import Partners of Indonesia in 2022
1.
China ($60.4 B)
2.
Singapore ($18.4 B)
3.
Japan ($13.2 B)
4.
US ($9.69 B)
5.
Malaysia ($9.55 B)
6.
South Korea ($9.1 B)
7.
Australia ($9 B)
8.
Thailand ($9 B)
9.
India ($7 B)
10.
Chinese Taipei ($4 B)
Impact of Imports on Indonesia's Economy
·
Employment Opportunities: The import sector provides job
opportunities for Indonesians, both directly and indirectly. From logistics to
customs clearance, numerous individuals find employment in import-related
activities.
·
Product Availability and Choice: Imports ensure a wide range of
products are available to Indonesian consumers. Variety and choice contribute
to consumer satisfaction and drive competition within the domestic market.
Factors Influencing Indonesia's Import Activities
Several
factors contribute to Indonesia's import activities and influence the volume of
goods imported. These factors can include:
·
Domestic Demand: The demands and preferences of Indonesian consumers
play a crucial role in shaping the import industry. As the country's population
grows and its middle class expands, the demand for various goods increases.
·
Economic Development: The overall state of the Indonesian
economy and its growth prospects impact import activities. When the economy is
booming, there is a higher demand for imported goods to fuel development across
sectors.
·
Industrial Needs: Industries in Indonesia often rely
on imported machinery, equipment, and raw materials to support production. As
industries expand, the demand for imports in these sectors increases.
·
Trade Agreements: International trade agreements and
partnerships also influence Indonesia's import activities. These agreements can
open avenues for increased trade and encourage the import of certain goods from
specific countries.
Conclusion
In
conclusion, the amount of goods Indonesia imports is substantial and reflects
the country's reliance on foreign products. The import data for 2022 indicates
a steady growth in import value compared to previous years. From machinery and
electrical equipment to mineral fuels and automotive parts, Indonesia's imports
encompass various categories. This trade activity strengthens Indonesia's
economic ties with major trading partners, including China, Singapore, and
Japan. The import sector not only supports the country's industrial and
manufacturing sectors but also provides employment opportunities and ensures a
diverse range of products for Indonesian consumers. Understanding the dynamics
of Indonesia's import market is essential for both domestic and international
stakeholders aiming to engage in trade activities with this vibrant Southeast
Asian nation.
Comments