Indonesia’s exports to China increase by 10.1% in 2020

Indonesia's exports to China increase by 10.1% in 2020

According to data released by China Customs, the total value of Indonesia’s trade with China in 2020 will reach 78.5 billion U.S. dollars. According to the calculated total trade volume, the total value of Indonesia’s exports to China in 2020 is 37.4 billion U.S. dollars, an increase of 10.10% over 2019. At the same time, the total value of Indonesia’s imports from China in 2020 is approximately US$41 billion, a decrease of 10.13% compared to the same period in 2019.

Indonesian ambassador to China Zhou Haoli issued an official statement on the 27th, stating that Indonesia’s export volume in 2020 will increase significantly, and it currently ranks fourth in total exports among ASEAN member states. At the same time, Indonesia’s trade deficit with China has also fallen to 68.96%, and the trade deficit has fallen from US$11.7 billion in 2019 to US$3.6 billion in 2020. In addition, China will once again become one of the countries with the most foreign investment in Indonesia in 2020, ranking third with an investment of US$3.5 billion, an increase from the US$2.9 billion in 2019.

It is reported that in 2020, the export volume of some high-quality and potential products in Indonesia will increase significantly. Steel and iron will increase by 134.3%; bird’s nest will increase by 88.05%; paper and paper products will increase by 133.25%; coffee, tea, mate and spices will increase by 175.34%. ; Footwear increased by 19.75%; essential oils, perfume preparations, cosmetics increased by 15.62%; ceramic products increased by 53.08%; tin and its derivatives increased by 544.07%; aluminum and its derivatives increased by 2031.53%.