What Value of Sugar Indonesia Imports from India: Indonesia Imports Data 2022–23

Indonesia Import Data

08-Sep-2023

As we know, Indonesia and India have shared a close cultural and commercial relationship since the establishment of ties between the countries. India is Indonesia's second-largest trading partner in the ASEAN region. Indonesia occupies the 33rd position in FDI equity inflows into India with an aggregate amount of US$ 645.48 million, as per Indonesia Trade Data. In this blog, we will discuss the value of sugar, Indonesia's Imports from India, and the top commodities exported by Indonesia.

Indonesia's Trade relationship with India

Indonesia is a prominent economic partner for India in Southeast Asia. With bilateral trade of approx. US$ 26.17 billion in 2021–22 and US$ 38.84 billion in 2022–23, Indonesia is the second largest trading partner for India in the ASEAN region, as per Indonesia Trade Data.

The two countries have also been working to strengthen their economic cooperation through a number of initiatives, such as the India-Indonesia Comprehensive Economic Partnership Agreement (ICEPA), which is currently under negotiation.

In addition to trade, India and Indonesia also have strong cultural and historical ties. The two countries share a common Hindu heritage, and there is a large Indian community living in Indonesia. This shared history and culture have helped create a strong foundation for the bilateral relationship.

Overall, the trade relations between India and Indonesia are strong and growing. The two countries have a lot to offer each other in terms of trade and investment, and there is a lot of potential for further cooperation in the future.

Key Highlights of India and Indonesia Trade Relations:

  • Indonesia was India's second-largest trading partner for 2022-23 in the ASEAN region, after Vietnam.
  • The bilateral trade between India and Indonesia has grown significantly in recent years, reaching US$38.84 billion in 2022-23 according to Indonesia Trade Data.
  • India's exports to Indonesia mainly consist of refined petroleum products, commercial vehicles, telecommunication equipment, bovine meat, animal feed, agriculture products, steel, and plastics, as per India Export Data.
  • Indonesia's exports to India mainly consist of coal, crude palm oil, minerals, rubber, pulp and paper, and hydrocarbon reserves, as per Indonesia Export Data.

Major Import products from Indonesia to India:

Here are the major import products from Indonesia to India:

  1. Coal briquettes: Indonesia is the world's largest exporter of coal briquettes, and India is one of its major buyers. Coal briquettes are used as a fuel in power plants and industries.
  2. Palm oil: Indonesia is the world's largest producer and exporter of palm oil. Palm oil is used in a variety of products, including food, cosmetics, and biodiesel.
  3. Ferroalloys: Ferroalloys are used in the production of steel and other metals. Indonesia is a major producer of ferroalloys, and India is one of its major buyers.
  4. Rubber: Indonesia is the world's second-year, (2022–23) largest producer of rubber. Rubber is used in a variety of products, including tires, hoses, and gaskets.
  5. Minerals: Indonesia is a rich country in minerals, and India imports a variety of minerals from Indonesia, including tin, copper, and nickel.
  6. Pulp and paper: Indonesia is a major producer of pulp and paper. India imports a variety of pulp and paper products from Indonesia, including newsprint, cardboard, and packaging materials.
  7. Hydrocarbon reserves: Indonesia has large reserves of oil and gas. India imports a variety of hydrocarbon products from Indonesia, including crude oil, liquefied natural gas (LNG), and petroleum products.

Major imports products from Indonesia to India

These are just some of the major imports from Indonesia to India. The actual list of imported products may vary depending on demand and supply conditions in the two countries. If you need an updated list of Indonesia suppliers and buyers, you need to Visit the IndonesiaTradeData platform to analyze the Indonesia import and export data.

Indonesia Trade Data: Overview for 2022–23

Here is an overview of Indonesia's trade data for 2022–23:

Exports: Indonesia's exports in 2022–23 valued at US$315.924 billion, an increase of 22.2% from the previous year, as per Indonesia Export Data. The top three export commodities were:

  • Oil and gas (12.4%)
  • Animal and vegetable fats and oils (14%)
  • Electrical equipment and machinery (10.45%)

Imports: Indonesia's imports in 2022–23 valued US$285.125 billion, an increase of 25.3% from the previous year, 2022–23, as per Indonesia Import Data. The top three import commodities were:

  • Machinery and equipment (26.3%)
  • Chemicals (11.7%)
  • Mineral fuels, lubricants and related materials (11.4%)

Trade balance: Based on trade data from Indonesia, the country had a trade surplus of US$30.799 billion in 2022–23, narrowing from the previous year's surplus of US$30.8 billion.

The growth in Indonesia's exports was driven by strong demand for commodities such as oil and gas, coal, and palm oil. The growth in imports was driven by the country's strong economic growth, which led to increased demand for capital goods and raw materials.

Overall, Indonesia's trade outlook is positive. The country is expected to remain a net exporter of goods in the medium term, and the trade surplus is expected to narrow gradually.

The Types of Sugar Indonesia Buys from India

Indonesia imports two main types of sugar from India:

  • Raw sugar: This is unprocessed sugar that is made from sugarcane juice. It is typically imported in bulk and then processed into white sugar in Indonesia.
  • White sugar: This is refined sugar that has been bleached and crystallized. It is the most common type of sugar consumed in Indonesia.

Indonesia has been importing more raw sugar from India due to a change in the Indonesian government's import regulations. The government has lowered the maximum ICUMSA (International Commission for Uniform Methods of Sugar Analysis) level for imported raw sugar from 1200 to 600. This means that Indian mills can now export raw sugar to Indonesia that would previously have been rejected.

The increased imports of raw sugar from India are expected to help meet the growing demand for sugar in Indonesia. The country's sugar consumption is expected to reach 6.2 million tons in 2023, up from 5.8 million tons in 2022.

Overall, India is a major supplier of sugar to Indonesia. The two countries have a long history of trade in sugar, and this relationship is likely to continue in the years to come.

What Value of Sugar Does Indonesia Import from India?

In 2022, Indonesia imported sugar worth US$885.9 million from India, as per Indonesia Import Data. This was the second-largest source of sugar imports for Indonesia after Thailand, which exported sugar worth US$1.2 billion. India's share of Indonesia's sugar imports has been increasing in recent years, from 25% in 2017 to 30% in 2022, as per Indonesia Trade Data.

There are a few reasons why Indonesia imports sugar from India. First, India is a major sugar producer and has a surplus of sugar that it can export. Second, the price of sugar in India is generally lower than the price of sugar in Indonesia. Third, the trade relationship between India and Indonesia is strong, and there are few barriers to trade.

The import of sugar from India is expected to continue to grow in the coming years. Indonesia's domestic sugar production is not sufficient to meet the country's demand for sugar, and the government is encouraging the import of sugar to meet the shortfall. Additionally, the growing middle class in Indonesia is driving demand for sugar, which is expected to further increase the need for imports.

Conclusion

In conclusion, Indonesia and India have a strong trade relationship. The two countries have been working to strengthen their economic cooperation through a number of initiatives, such as the India-Indonesia Comprehensive Economic Partnership Agreement (ICEPA), which is currently under negotiation

The trade relationship between India and Indonesia is strong, and there are few barriers to trade. This is likely to continue to be the case in the coming years as the two countries work to further strengthen their economic cooperation. Looking for Indonesia Trade Data?  If so, then visit indonesiatradedata.com and learn the real-time import and export data for any particular product. Don't sit on it for a long period of time! Request a free live demo right now!

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