Friday, September 18

Indonesia and its performance in global trade transactions

Emerging Economies around the World indulge in competitive threat transactions to earn a sufficient amount of returns through better exports and limited imports. Both developing and developed countries indulge in import and export transactions to earn a sufficient amount of earnings for better profitability and continuous functioning of the economy. Every country in the world indulges in transactions to keep the wheels turning. Indonesia is one such economy in Asia which is considered one of the largest exporting countries with a position of 25th on the global trade market. It is considered one of the most complex economies with a total value of $190 billion. The economy enjoys a GDP of $1.02 trillion revealing its Booming structure and profitable trading policies. One can easily analyse the level of performance through daily export import data which various companies provide through their official websites.

Necessary import-export information and data relating to Indonesia are listed below:

  • Value and volume of exports from the country:

Indonesia exports various types of products to other parts of the world. According to the latest reports, Indonesia’s total exports valued around $13 billion worth making it one of the most lucrative and well-performing economies in the world. Coal, crude oil, palm oil, refined petroleum, and rubber are some essential items which the country exports to other parts of the world. Out of all the products mentioned, cool accounts for 10% of the total value of exports providing earnings of almost $20 billion.

  • Value and volume of imports from the country:

Apart from exports, Indonesia also imports various products from other parts of the world. Products like refined petroleum, crude petroleum, telephones, wheat, vehicle parts and raw sugar et cetera are imported from other parts of the world. Moreover, Indonesia is considered the 29th largest importer in the world with Refined and crude petroleum accounting for almost 15% of the total value of imports i.e. $22 billion.

  • Trade balance:

Indonesia, according to the import-export statistics of the year 2020, reported a fall of total value and volume of exports. The country recorded a deficit of $864 million on account of decreasing exports. Moreover, the country recorded a decrease in the total value of imports which stood at $14 billion in the year 2020.

Indonesia exports various types of products to countries like China, the United States of America, Japan, India, and Singapore out of which China and United States account for 25% of total value and volume of exports. On the other hand, Indonesia imports necessary items from countries like China, Singapore, Japan, Malaysia, India, Australia, and United States et cetera. Out of all the countries, China is the major contributor to the total imports valuing at $34 billion making it the largest participant in the importing transactions.

The value and volume of exports have decreased in recent years due to various reasons. However, the country is considered to be one of the most profitable and fast pacing economies which can help in earning a sufficient amount of returns if traded with. The latest import export data available online through various websites can help in the billing of the current and future expected performance of Indonesia in the global trade.