Indonesia Import Data
01-Feb-2024
India and Indonesia are diverse and distinct countries with a robust economic relationship characterized by collaboration and trade. Investigating the main exports that support the thriving commercial connection between these nations is crucial as their links grow more robust. However, the trade relations between India and Indonesia are significant. In ASEAN, Indonesia is India's largest trade partner. The economic cooperation between the two countries is remarkable.
Both countries emphasize exports of technology, pharmaceuticals, agriculture, and infrastructure, with a target of US $50 billion by 2025. Since two millennia, both countries have evolved with better trade relations. Strategic alliances between both countries also play a vital role in strengthening their ties. Through this blog, you will cover India's major exports to Indonesia and Indonesia import data.
India and Indonesia signed trade agreements in 1978 to begin their trading connections, and in January 1986, they established an agreement to avoid double taxation. In September 2003, the Indo-Indonesia Joint Commission (JCM) was established, and in 2012, the Double Taxation Avoidance Agreement (DTAA) was approved.
They established specialized working groups to fortify their business and economic relationships further. Aiming for US$50 billion in bilateral trade by 2025, both countries have set high standards for themselves as part of a more significant strategic partnership and joint efforts to access the Comprehensive Economic Cooperation Agreement (CECA).
Based on Indonesia import data, India exported comprehensive commodities to Indonesia in the financial year 2023. It includes petroleum-based products worth $3.87 billion, motor vehicles worth $523 million, sugar worth $435 million, ships, boats, or floating goods worth $400 million, and iron steel worth $389 million. India is the fifth-largest exporter of Indonesia.
As per the Indonesia trade statistics, the average export from Indonesia was around 9.89 billion by 1991. Primary export goods included cotton, jute, vegetable oil, etc. Jakarta imports rice and sugar from India, which reflects bilateral relations between India and Indonesia. According to Indonesia import data, export data reflect the goods exported between India and Indonesia of $4.3 billion in 2019, which increased over the year.
The trade relations between India and Indonesia are remarkable because of their economic cooperation and Indonesia's top imports. India is an exporter of luxurious and premium goods to Indonesia, including:
Pharmaceutical: India has better recognition in the pharmaceutical industry, and that's the reason India is a significant exporter of medicine to Indonesia and other countries. India's medicines are widely recognized in Indonesia, and the doctors in Indonesia also recommend them.
Electronics: The market for electronic products has evolved over the years, and now India is a significant exporter of electronic products. India exports electronic products to Indonesia, including technology like mobiles, laptops, etc., at the most reasonable price.
Textiles: India's rich textiles are famous worldwide, and India exports many textiles to Indonesia. India's textile market has a significant presence in the Indonesian market.
Automobile: India's automobiles are widely popular in Indonesia for fuel efficiency and cost-effectiveness. India exports large automobiles to Indonesia, strengthening trade relations between the two countries.
Sugar: The export of sugar is worth $736 million to Indonesia, and hence, India is the largest exporter of sugar and sugar-based items to Indonesia.
Read More: https://www.eximpedia.app/blog/india-top-export-products
Trade relations between India and Indonesia strengthened with the ASEAN economic cooperation role played primarily by Indonesia and Jakarta. As per the Indonesia trade data, bilateral trade relations between both countries increased over the years, and Indonesia's top imports reached $38 billion in 2023.
These are the goods and commodities imported by Indonesia from India, of which the highest are mineral fuels, machinery, and iron steel, which Indonesia imports from India due to their best quality and cost efficiency.
Here is the updated list of Indonesia major import products:
S.No | Indonesia major imports | Import Values (Billions Dollars) |
| 1 | Mineral fuels and oil | 44.9 |
| 2 | Machinery, including computers | 31.6 |
| 3 | Electrical machinery and equipment | 26.4 |
| 4 | Iron and steel | 13.9 |
| 5 | Plastics and plastic articles | 11.1 |
| 6 | Vehicles | 9.5 |
| 7 | Organic chemicals | 7.7 |
| 8 | Food industry waste | 4.6 |
| 9 | Cereals | 4.5 |
| 10 | Iron or steel | 4 |
The list of Indonesia import data is as follows:
Mineral fuels and oil: US$44.9 billion
Machinery, including computers: $31.6 billion
Electrical machinery and equipment: $26.4 billion
Iron and steel: $13.9 billion
Plastics and plastic articles: $11.1 billion
Vehicles: $9.5 billion
Organic chemicals: $7.7 billion
Food industry waste: $4.6 billion
Cereals: $4.5 billion
Iron or steel: $4 billion
With companies like Tata Power, Reliance, Adani, and L&T making significant investments in a variety of sectors, including infrastructure, power, textiles, steel, automotive, mining, machinery, banking, and consumer goods, India has invested US$54 billion in Indonesia, mainly through Singapore.
Indonesia has actively urged Indian businesses to invest there, especially in creating fresh capital, and has given guarantees. As a result of new competitors joining the market, India's influence in Indonesia has increased.
Indonesia is considering several investment options, such as the growth of the automotive industry, the selling of Indian medicinal products domestically, and industrial and service-related endeavours. Building on favourable economic trends and strengthening indicators, the goal is to diversify trade and increase investments.
Also Read: https://www.eximpedia.app/blog/major-importers-in-india
If you're curious about Indonesian trade data and cannot find it, then no more browsing is required. By visiting the Indonesiatradedata.com website, you can access Indonesian import data and HS codes for specific products. You will find the most reliable and authentic information about Indonesian trade on our website.
In conclusion, these are the top 10 products that Indonesia imports, accounting for most of the country's total import value from other countries. However, Indonesia is a free-trade country where countries can import and export efficiently without restrictions.
This export from India to Indonesia increases India's foreign reserves and is also associated with generating revenue and employment in India. If you are required to access the Indonesia trade data, then you can easily book a demo and access this data by availing our services.
As per Indonesia import data, these are the products exported from India to Indonesia:
Refined petroleum products:
Vehicles and cars:
Sugar:
Ships and boats:
Iron and steel:
Based on Indonesia export data, the major products exported to India are:
Coal
Palm oil
Ferroalloys:
rubber, pulp
Paper
Coal is Indonesia's largest import by value, coming mostly from China and Australia. However, refined petroleum products from India are ranked second, demonstrating the importance of this import to Indonesia's economy.
China is currently Indonesia's biggest trading partner, followed by Singapore and Japan. India is Indonesia's fifth-largest trading partner, suggesting the potential for expanded economic cooperation between the two countries.
