Indonesia at a glance

The largest economy in Southeast Asia and the largest Muslim population in the world are both found in Indonesia, which is made up of a chain of thousands of islands between Asia and Australia. It has a large ethnic diversity and more than 300 regional languages. Hunter-gatherers in the countryside coexist with affluent urbanites. Before the Dutch colonized the archipelago but gave up their claim to it in 1949, there were sophisticated kingdoms there. Despite being one of the world's leading rising economies, Indonesia nevertheless faces demands for independence in a number of its regions. Indonesia has seen a huge jump in its import business in recent years according to the Indonesia import data and the Indonesia trade data. In this article, we will learn more about the top 10 import products of Indonesia in detail.

Indonesia import data in the year 2023

According to the Indonesia import data, In 2023, Indonesia imported goods worth US$237.4 billion, a 25.8% increase over the $188.7 billion it bought in 2018 for the imports of Indonesia. The total cost of Indonesian imports increased by 21.3% year over year from $195.7 billion in 2021. According to the average exchange rate for 2023, the value of the Indonesian rupiah against the US dollar has decreased by -4.3% since 2018 and by -3.8% between 2021 and 2023. When converted starting from the Indonesian rupiah, imports to Indonesia that were paid for in the country's weaker native currency were more expensive as per the Indonesia trade data.

Leading suppliers of Indonesian Imported Goods

According to the most recent trade data of Indonesia, the exporters in mainland China (28.5% of Indonesia's total imports), Singapore (8.2%), Japan (7.2%), Malaysia (5.3%), South Korea (4.94%), the United States (4.92%), Thailand (4.6%), Australia (4.2%), India (3.9%), Saudi Arabia (2.3%), Vietnam (2%), and Taiwan (1.9%), supplied more than seven in ten (78%) of the imports of Indonesia. By value, 74.8% of Indonesia's total imports were from Asian nations, when viewed through a continental lens. 6.8% of Indonesia's import purchases came from European countries, while 6.3% of its purchases came from North America as per the Indonesia trade data and the import data of Indonesia. A smaller portion of all imports to Indonesia came from Africa (4.3%), Latin America (3%) (excluding Mexico but includes the Caribbean), and Australia and other Oceanian regions (4.8%), respectively as stated by the Indonesia import data. With a population of 274.9 million, Indonesia will import a total of $237.4 billion in 2022, which corresponds to a yearly demand for goods of almost $860 per person in the Asian nation. The money amount is higher than the 2021 per capita average of $720. Basic trade analytics according to the different teams and the Indonesia import data.

Imports of Indonesia – Early history

As a major percentage of the population reached the middle class and drove increasing purchases of energy and consumer goods, imports to Indonesia tripled between 2004 and 2012. However, since the middle of 2013, imports have been falling as a result of low commodity prices, weak domestic demand, and low levels of investment. Oil and gas make up about 17 percent of all imported goods, followed by nuclear reactions, boilers, and mechanical appliances (19 percent), iron and steel (5.4 percent), organic chemical materials (4.8 percent), and automobiles (4.5 percent). The top import partners are China (which accounts for 25% of all imports), Japan (11%), Singapore (7.6%), Thailand (6.8%), and the United States (6.4%) according to the Indonesia import data and the trade data of Indonesia.

Top 10 Imports from Indonesia

The following product categories will account for the bulk of Indonesia's import spending in 2023. The percentage of each product category's total imports into Indonesia is also displayed. Here are the top 10 import products of Indonesia –

1. Oil and other mineral fuels account for US$44.9 billion (18.9% of all imports).
2. Computer and electronic equipment: $31.6 billion (13.3%)
3. Electrical equipment and machinery: $26.4 billion (11.1%)
4. Steel and iron: $13.9 billion (5.9%)
5. Materials made of plastic: $11.1 billion (4.7%).
6. Transportation: $9.5 billion (4%)
7. $7.7 billion (3.2%) for organic chemicals
8. Waste from the food industry and animal feed: $4.6 billion (1.9%)
9. $4.5 billion (1.9%) in cereal sales
10. Iron or steel products: $4 billion (1.7%)

The top import partners of Indonesia

Let's examine the top nations that most recently supported Indonesia's imports. The largest trading partners of Indonesia had an overall import value of about $103.93 billion and a total import share of 72.35 percent. Based on total import value and total import share, we have provided a detailed analysis of Indonesia's top 5 trading partners according to the Indonesia import data in the figure below.

1. China ($60.4B)
2. Singapore ($18.4B)
3. Japan ($13.2B)
4. US ($9.69B)
5. Malaysia ($9.55B)

Benefits of Indonesia Import Trade Data

• Find potential customers in the Indonesian market.
• Learn about Indonesia's current product demand.
• Follow your rivals and surpass them.
• Implement data-driven marketing techniques.
• Increase the visibility of your company in the Indonesian market.
• Set long-term business objectives and increase your revenues in the imports of Indonesia.

Conclusion

The primary imports into Indonesia include petroleum oils, mineral fuels, chemicals, machinery, and foodstuffs. According to data on import shipments, China, Singapore, and Japan provided the majority of Indonesia's imports. There is a chance for international producers and suppliers to export high-quality goods to Indonesia. Using Indonesia Trade Data, you can find reliable Indonesian buyers and make big money. The imports from Indonesia have inclined rapidly in recent years. The top 10 import products of Indonesia have played a huge part in the country being one of the biggest economies in Asia. Indonesia's import patterns are probably going to change as it develops and expands in response to fresh opportunities and challenges on the international scene.

For our readers - Visit TradeImeX

One of the top platforms in the country, TradeImeX Info Solution Pvt. Ltd. offers its esteemed clients the most reliable and accurate trade data from more than 70 nations. If you are a marketer or trader who is keen to increase your company's sales in nations like Indonesia, Philippines, Turkey or other countries get in touch with us right away to gain access to the import and export data of more than 70 nations. Visit our website tradeimex.in or mail us at info@tradeimex.in for more information.

Read More:-

Indonesia Import Data

Best Import Export Data Provider

Quarterly Analysis Of Indonesia’s Trade Data

Indonesia Trade Data Report