Indonesia imported US$221.7 billion worth of products from around the globe in 2023, up by 29.5% compared to $171.3 billion five years earlier during 2019.

Year over year, the overall cost of Indonesian imports fell by -6.6% from $237.4 billion in 2022.

Based on the average exchange rate for 2023, the Indonesian rupiah depreciated by -7.7% against the US dollar since 2019 and fell by -2.6% from 2022 to 2023. Indonesia’s weaker local currency made Indonesia’s imports paid for in the comparatively stronger US dollars more expensive when converted starting from the Indonesian rupiah.

Domestically, Indonesia’s average consumer price inflation in 2023 was 3.553% down from an average 4.209% for 2022.

Major Suppliers for Indonesia’s Imported Products

The latest available country-specific data shows that 77.3% of products imported by Indonesia was furnished by exporters in: mainland China (28.4% of the Indonesian total), Singapore (8.3%), Japan (7.4%), United States of America (5.1%), Malaysia (4.9%), South Korea (4.7%), Thailand (4.6%), Australia (4.1%), India (3%), Vietnam (2.4%), Brazil (2.2%) and Germany (2.1%).

Applying a continental lens, 72.9% of Indonesia’s total imports by value was purchased from fellow Asian countries. European nations supplied 8.6% of import purchases by Indonesia while another 6.2% worth of goods originated from North America.

Smaller percentages of overall Indonesian imports came from Australia, New Zealand and other Oceanian geographies (4.7%), Africa (4.5%), then Latin America (3.1%) excluding Mexico but including the Caribbean.

Given Indonesia ‘s population of 277.4 million people, its total $221.7 billion in 2023 imports translates to roughly $800 in yearly product demand from every person in the Asian country. That dollar metric lags the average $860 per capita in 2022.

Indonesia’s Top 10 Imports

The following product groups represent the highest dollar value in Indonesia’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into Indonesia.

1. Mineral fuels including oil: US$40.1 billion (18.1% of total imports)
2. Machinery including computers: $32.2 billion (14.5%)
3. Electrical machinery, equipment: $25.8 billion (11.6%)
4. Iron, steel: $11.4 billion (5.1%)
5. Vehicles : $10.2 billion (4.6%)
6. Plastics, plastic articles: $9.4 billion (4.2%)
7. Organic chemicals: $6.4 billion (2.9%)
8. Cereals: $6 billion (2.7%)
9. Articles of iron or steel: $4.3 billion (2%)
10. Food industry waste, animal fodder: $4.3 billion (1.9%)

Indonesia’s top 10 imports generated over two-thirds (67.7%) of the overall value of its product purchases from other countries.

The leading gainers from 2022 to 2023 among Indonesia’s top 10 import categories were cereals (up 33.6%), items made from iron or steel (up 9.1%), vehicles (up 7.4%) then machinery including computers (up 1.8%).

The severest decliners among Indonesian imports were the metals iron and steel pulled down by a -18.3% slowdown.

At the more detailed 4-digit level Indonesia’s 5 most valuable imported products are processed petroleum oils (9.1% of the Indonesian total), crude oil (5%), phone devices including smartphones (2.9%), electronic integrated circuits and microassemblies (1.8%) then wheat (1.7%).

Information presented in the sections below is also at the more granular 4-digit level.

Indonesia’s Top Mineral Fuels Imports and Related Products

In 2023, Indonesian importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$20.3 billion (down -13.3% from 2022)
2. Crude oil: $11.1 billion (down -2.7%)
3. Petroleum gases: $3.7 billion (down -24.8%)
4. Coal, solid fuels made from coal: $3.4 billion (down -5.8%)
5. Petroleum oil residues: $697.9 million (up 10.3%)
6. Coke, semi-coke: $630.4 million (up 1.2%)
7. Coal tar oils (high temperature distillation): $148 million (up 5.1%)
8. Electrical energy: $60.6 million (up 8%)
9. Tar pitch, coke: $33.3 million (down -2.4%)
10. Petroleum jelly, mineral waxes: $30.3 million (down -13.7%)

Among these import subcategories, Indonesia’s purchases of petroleum oil residues (up 10.3%), electrical energy (up 8%) then high temperature distilled coal tar oils (up 5.1%) grew at the fastest pace from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported fuel among Indonesian businesses and consumers.

Indonesia’s Top Machinery Imports

In 2023, Indonesian importers spent the most on the following 10 subcategories of machines including computers.

1. Computers, optical readers: US$2.7 billion (down -24.5% from 2022)
2. Heavy machinery (bulldozers, excavators, road rollers): $2.1 billion (down -22.6%)
3. Machinery parts: $1.41 billion (down -0.5%)
4. Miscellaneous machinery: $1.34 billion (up 12.7%)
5. Taps, valves, similar appliances: $1.3 billion (up 2.5%)
6. Centrifuges, filters and purifiers: $1.29 billion (up 8.5%)
7. Air or vacuum pumps: $1.25 billion (up 31.8%)
8. Temperature-change machines: $1.21 billion (down -7.5%)
9. Liquid pumps and elevators: $1.14 billion (up 4%)
10. Sort/screen/washing machinery: $1.06 billion (up 3.7%)

Among these import subcategories, Indonesia’s purchases of air or vacuum pumps (up 31.8%), miscellaneous machinery (up 12.7%) then centrifuges, filters and purifiers (up 8.5%) grew at the fastest pace from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Indonesian businesses and consumers.

Indonesia’s Top Electrical Product Imports

In 2023, Indonesian importers spent the most on the following 10 subcategories of electronic products including consumer electronics.

1. Phone devices including smartphones: US$6.4 billion (down -0.4% from 2022)
2. Integrated circuits/microassemblies: $3.9 billion (down -0.6%)
3. Insulated wire/cable: $1.29 billion (down -8%)
4. Lower-voltage switches, fuses: $1.29 billion (down -6.2%)
5. Electrical converters/power units: $1.16 billion (up 0.5%)
6. Solar power diodes/semi-conductors: $1 billion (down -11.7%)
7. TV/radio/radar device parts: $914.4 million (down -12%)
8. Electrical/optical circuit boards, panels: $812.1 million (up 21%)
9. Electric storage batteries: $701.5 million (up 2.3%)
10. Electric generating sets, converters: $619.2 million (down -2.5%)

Among these import subcategories, Indonesia’s purchases of electrical or optical circuit boards and panels (up 21%), electric storage batteries (up 2.3%) then electrical converters or power units (up 0.5%) grew from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Indonesian businesses and consumers.

Indonesia’s Top Iron and Steel Imports

In 2023, Indonesian importers spent the most on the following 10 subcategories of iron and steel as materials.

1. Iron or non-alloy steel products (semi-finished): US$2.2 billion (down -8.7% from 2022)
2. Hot-rolled iron or non-alloy steel products: $1.7 billion (up 6.8%)
3. Iron ferroalloys: $1.6 billion (down -47.8%)
4. Flat-rolled other alloy steel products: $1.5 billion (down -11.3%)
5. Flat-rolled iron or non-alloy steel products (plated/coated): $983.9 million (down -9.7%)
6. Cold-rolled iron or non-alloy steel products: $683.8 million (down -12.6%)
7. Iron or steel scrap: $473.8 million (down -24.1%)
8. Alloy steel bars, rods: $435.2 million (down -7.7%)
9. Flat-rolled stainless steel items: $369 million (down -16.1%)
10. Iron or non-alloy steel angles, shapes, sections: $240.6 million (down -11.3%)

Among these import subcategories, Indonesia’s purchases of hot-rolled iron or non-alloy steel products grew from 2022 to 2023 via a 6.8% advance.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported steel and iron among Indonesian businesses and consumers.
 

See also Indonesia’s Top Trading Partners, Indonesia’s Top 10 Exports, Top Asian Export Countries, Palm Oil Exports by Country and Coal Exports by Country

Research Sources:
Central Intelligence Agency, The World Factbook report on East Asia/Southeast Asia: Indonesia. Accessed on August 14, 2024

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on August 14, 2024

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 14, 2024

International Trade Centre, Trade Map. Accessed on August 14, 2024