Trade Balance of Goods in Indonesia: Overview from 2017 to 2023

Indonesia’s trade balance of goods fluctuated significantly, transitioning from a surplus of 11,885.9 million USD in 2017 to a deficit of -8,583.9 million USD in 2018, before rebounding to a robust surplus of 54,532.0 million USD in 2022. This recovery was largely driven by strong exports of coal, palm oil, and metals amid high global demand.

By 2023, the surplus moderated to 36,970.8 million USD, reflecting stabilizing commodity prices and increased import demand for industrial and consumer goods. Indonesia’s trade performance highlights the importance of commodity exports, while the narrowing surplus signals the need for export diversification to sustain long-term growth.