In 2020, Indonesia’s exports to China have increased compared to 2019. At the same time, Indonesia’s deficit with China this year has dropped significantly from last year.
According to data released by the Chinese Customs, in 2020, the total value of Indonesia's trade with China will reach 78.5 billion US dollars. The total value of Indonesia's exports to China was US$37.4 billion, an increase of 10.10% over the total value of exports in 2019. At the same time, in 2020, the total value of Indonesia's imports from China is approximately 41 billion U.S. dollars, a decrease of 10.13% from last year.
According to information released by the Indonesian Embassy in China on the 28th, Indonesian Ambassador to China and Mongolia, Djauhari Oratmangun said in a statement: “In 2020, Indonesia’s exports to China have increased significantly. In 2019, Indonesia’s Compared to ASEAN member states, ranking fifth, it will rise to fourth in 2020. Indonesia’s trade deficit with China has also fallen by 68.96%."
“In 2019, Indonesia’s trade deficit with China was as high as US$11.7 billion, and in 2020, the deficit fell to US$3.6 billion. In 2021, we still have to work together to continue to increase exports of value-added products to China in order to be able to reconcile the achievements in 2021. Performance improved," Zhou Haoli said.
Data show that in 2020, the export value of some high-quality products and potential products in Indonesia will increase significantly, including: steel (HS 72), an increase of 134.3%; bird’s nest (HS 0410), an increase of 88.05%; paper and paper products (HS 48 ) Increased by 133.25%; coffee, tea, mate and spices (HS 09) increased by 175.34%; footwear (HS 64) increased by 19.75%; essential oils, fragrance preparations, cosmetics (HS 33) increased by 15.62%; ceramic products (HS 69) an increase of 53.08%; tin and its derivatives (HS 80) an increase of 544.07%; aluminum and its derivatives (HS 76) an increase of 2031.53%; tropical fruits (HS 08) an increase of 73.8%; copper and its derivatives (HS 74 ) Increased by 56.5%; rubber and its derivatives (HS 40) increased by 50.02%; food processing products (HS 21) increased by 53.2%; plastics and derivatives (HS 39) increased by 42.3%; textile products (HS 63) increased by 1850.89% ; Beverages, alcohol and vinegar products (HS 22) increased by 126.6%; sugar and candy (HS 17) increased by 336.03%; glass and derivative products (HS 70) increased by 33.3%; zinc and its derivatives (HS 79) increased by 88.5% ; Milling industrial products (HS 11) increased by 1824.3%.
.
Earlier, the investment realization data released by Bahlil Lahadalia, Chairman of the Investment Coordination Committee (BKPM) at a press conference on the 25th, showed that in 2020, China is the second largest investor in Indonesia with a total of 4.8 billion US dollars, compared with last year. The investment amount increased to 4.7 billion US dollars.
The above figures do not include the investment realization of Hong Kong, China. The region has once again become Indonesia's third largest foreign investment with a total of 3.5 billion US dollars, an increase from last year's 2.9 billion US dollars.
The realization of Chinese investment in Indonesia has continued to grow every year since 2016. Several large Chinese investors have also expressed their commitment to investing in new energy, which, if agreed, will play an important role in Indonesia's contribution to the global electric vehicle development industry.
