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Indonesia exports to China grow by 10 percent in 2020

Indonesia Expects Balanced Trade with China
Indonesia Expects Balanced Trade with China

BEIJING – Indonesia exports to China in 2020 have increased compared to Indonesia’s exports in the previous year. China has also expressed interest in investing in the renewable energy sector.

The increase in Indonesian exports is reflected in the sharp decline in Indonesia deficit against China during 2020 compared to 2019.

Data released by Chinese Customs states that the total value of Indonesia’s trade with China in 2020. Will reach 78.5 billion US dollars (US). Based on the total trade value, the value of Indonesia exports to China reached 37.4 billion US dollars. Growing 10.10 percent compared to the total value of Indonesian exports to China in 2019.

Meanwhile, the value of Indonesia’s imports from China in 2020 reached approximately 41 billion US dollars, decreased by 10.13 percent compared to last year’s total import value. “The value of Indonesia’s exports in 2020 has increased significantly. If in 2019 the value of Indonesia’s exports compared to ASEAN member countries is in the 5th place. In 2020 we will rise to 4th place, “said the Ambassador of the Republic of Indonesia to China and Mongolia, Djauhari Oratmangun, in a written statement to Republika, Wednesday (27 / 1)

“The deficit value of Indonesia against China has also decreased to 68.96 percent,” he added.

In 2019 Indonesia was a Deadly Deficit

In 2019, Indonesia experienced a deficit of up to US $ 11.7 billion. Meanwhile, in 2020 Indonesia’s deficit value was US $ 3.6 billion. US “In 2021, of course, together we still have to struggle and work together. To continue to increase the export of value-added products to China so that we can improve our 2021 achievements and performance,” said Djauhari.

Some of Indonesia superior and potential products in this period recorded a significant increase in export value. Aluminum and its derivative products show the largest increase in exports, namely 2031.53 percent. Next followed by textile products which rose by 1850.89 percent and products from the milling industry which rose to 1824.3 percent.

 

 

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