Indonesia-Australia Bilateral Trade – Countries Plan to Boost Business

13 November 2019
Indonesia Australia Trade Data

Indonesia’s total trade with Australia amounted to US$8.5 billion in 2018, while total trade between the two countries reached US$3.6 billion between January and June this year. Australia was Indonesia’s 13th largest export destination in 2018, with the total value of shipments increased 12% to US$2.8 billion. Australia was Indonesia’s 8th largest source of imports, at US$5.8 billion last year, which declined about 3% from 2017. Indonesia’s main exports to Australia are wood, tires, television receivers, footwear and plywood. And Indonesia’s major imports from Australia are wheat & meslin, cattle, coal, sugarcane and iron ore.


Indonesia and Australia have now agreed to speed up the ratification of a bilateral free trade agreement, which was signed early this year. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) was signed on 4th March 2019 to boost trade and investment between the two countries.


Trade Balance between Indonesia and Australia in Last 5 Years


The trade gap between Indonesia and Australia has widened since 2014. The balance in value of both the countries was US$ -685 million in 2014, which increased to US$ -3,025 million in 2018. Now both the countries have agreed to boost their bilateral trade after signing IA-CEPA early this year.



Year

Balance in Value (US$ Million)

2014

-685

2015

-1,113

2016

-2,061

2017

-3,500

2018

-3,025

 


Indonesia Exports to Australia in 2018


Indonesia exports of mineral fuels and oils to Australia recorded the highest value in 2018. The country shipped fuel and oil worth US$ 636 million to Australia in the given year. Here is the list of top 5 products which are exported by Indonesia to Australia.   



Product

Value in US$ Million

Mineral Fuels and Oils

636

Wood

214

Electrical Machinery & Equipment

160

Articles of Iron and Steel

135

Machinery, Mechanical Appliances, etc.

131

 


Indonesia Imports from Australia in 2018


The top import commodities of Indonesia from Australia are mineral fuels & oils, cereals, live animals, meat and sugar. In 2018, Indonesia purchased mineral fuels and oils worth US$ 1,329 million from Australia. Check trade values of all these commodities which were imported by Indonesia from Australia in the given year.



Product

Value in US$ Million

Mineral Fuels and Oils

1,329

Cereals

640

Live Animals

574

Meat

335

Sugars and Sugar Confectionery

318

 


If you want to import or export any product from Indonesia to Australia, a good market research with Indonesia customs data will help you in finding the best trading partners. Our data also covers product specifications with value and quantity which will help you in choosing the right product to import or export. Have a look at Indonesia export sample to know which columns are covered in our data.


Indonesia Export Sample of HS Code 27101943 with Australia as Importer Country


Date

02-01-2019

Export Notes

Export

HS Code

27101943

Product Description

Dryer Transformer Oil Sample

Exporter Code

010005411091000

Indonesian Exporter Name

PT.Vale Indonesia TBK

Exporter Address

JL. Jend Sudirman KAV 52-53 THE Energy Building LT.31, SCBD LOT 11 A

Importer Name

TJH2B Analytical Services Pty Ltd

Importer Address

Wilson Road (Po.Box-5) Glen Waverley Victoria 3150

Importer Country

Australia

Destination Country

Australia

Port of Loading

Cengkareng / Sukarno Hatta (u)

Destination Port

Melbourne

Quantity

1

Unit

Piece

Net Weight

1

FOB Value (USD)

8

 


After signing Indonesia-Australia Comprehensive Economic Partnership Agreement early this year, both the countries are now working on boosting this agreement and boosting their bilateral trade. In the coming years, it is expected that economies of both Indonesia and Australia will grow after this agreement. 

 

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