Year over year, the overall cost of Indonesian imports accelerated by 21.3% from $195.7 billion in 2021.
Based on the average exchange rate for 2022, the Indonesian rupiah depreciated by -4.3% against the US dollar since 2018 and fell by -3.8% from 2021 to 2022. 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 2022 was 4.632% up from 1.56% for 2021.
Percent Change 4.632% Average Consumer Price Inflation up from 1.56%
Major Suppliers for Indonesia’s Imported Products
The latest available country-specific data shows that more than three-quarters (78%) of products imported by Indonesia were furnished by exporters in: mainland China (28.5% of the Indonesian total), Singapore (8.2%), Japan (7.2%), Malaysia (5.3%), South Korea (4.94%), United States of America (4.92%), Thailand (4.6%), Australia (4.2%), India (3.9%), Saudi Arabia (2.3%), Vietnam (2%) and Taiwan (1.9%).
Applying a continental lens, 74.8% of Indonesia’s total imports by value were purchased from fellow Asian countries. European nations supplied 6.8% of import purchases by Indonesia while another 6.3% worth of goods originated from North America.
Smaller percentages of overall Indonesian imports came from Australia and other Oceanian geographies (4.8%), Africa (4.3%), then Latin America (3%) excluding Mexico but including the Caribbean.
Given Indonesia ‘s population of 274.9 million people, its total $237.4 billion in 2022 imports translates to roughly $860 in yearly product demand from every person in the Asian country. That dollar metric exceeds the average $720 per capita in 2021.
Indonesia’s Top 10 Imports
The following product groups represent the highest dollar value in Indonesia’s import purchases during 2022. Also shown is the percentage share each product category represents in terms of overall imports into Indonesia.
- Mineral fuels including oil: US$44.9 billion (18.9% of total imports)
- Machinery including computers: $31.6 billion (13.3%)
- Electrical machinery, equipment: $26.4 billion (11.1%)
- Iron, steel: $13.9 billion (5.9%)
- Plastics, plastic articles: $11.1 billion (4.7%)
- Vehicles: $9.5 billion (4%)
- Organic chemicals: $7.7 billion (3.2%)
- Food industry waste, animal fodder: $4.6 billion (1.9%)
- Cereals: $4.5 billion (1.9%)
- Articles of iron or steel: $4 billion (1.7%)
Indonesia’s top 10 imports accounted for two-thirds (66.6%) of the overall value of its product purchases from other countries.
The leading gainers from 2021 to 2022 among Indonesia’s top 10 import categories were mineral fuels including oil (up 55.7%), vehicles (up 41.7%), items made from iron or steel (up 27%), then machinery including computers (up 22.2%).
At the more detailed 4-digit level Indonesia’s 5 most valuable imported products are processed petroleum oils, crude oil, telephone devices including smartphones, petroleum gas, and automobile parts or accessories. Those top 5 imports represent over one-fifth (21.2%) of the overall cost of Indonesian imports during 2022.
Information presented in the sections below is at the more granular 4-digit level.
Indonesia’s Top Mineral Fuels Imports and Related Products
In 2022, Indonesian importers spent the most on the following 10 subcategories of mineral fuels-related products.
- Processed petroleum oils: US$23.4 billion (up 67.5% from 2021)
- Crude oil: $11.5 billion (up 62.6%)
- Petroleum gases: $4.9 billion (up 19.5%)
- Coal, solid fuels made from coal: $3.6 billion (up 59.2%)
- Petroleum oil residues: $632.5 million (up 63.4%)
- Coke, semi-coke: $623 million (up 69.2%)
- Coal tar oils (high temperature distillation): $140.9 million (down -75.3%)
- Electrical energy: $56.2 million (down -27.6%)
- Petroleum jelly, mineral waxes: $35.1 million (up 18.7%)
- Tar pitch, coke: $34.1 million (up 111.5%)
Among these import subcategories, Indonesia’s purchases of tar pitch and coke (up 111.5%), coke or semi-coke (up 69.2%) then processed petroleum oils (up 67.5%) grew at the fastest pace from 2021 to 2022.
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 2022, Indonesian importers spent the most on the following 10 subcategories of machines including computers.
- Computers, optical readers: US$3.6 billion (up 18.8% from 2021)
- Heavy machinery (bulldozers, excavators, road rollers): $2.7 billion (up 63.2%)
- Machinery parts: $1.4 billion (up 39.6%)
- Temperature-change machines: $1.3 billion (up 23.2%)
- Taps, valves, similar appliances: $1.26 billion (up 21.2%)
- Miscellaneous machinery: $1.19 billion (down -14.3%)
- Centrifuges, filters and purifiers: $1.18 billion (up 28.4%)
- Liquid pumps and elevators: $1.1 billion (up 2.8%)
- Sort/screen/washing machinery: $1 billion (up 114.9%)
- Air or vacuum pumps: $946.7 million (up 15%)
Among these import subcategories, Indonesia’s purchases of sorting, screening or washing machinery (up 114.9%), heavy machinery such as bulldozers, excavators and road rollers (up 63.2%) then machinery parts (up 39.6%) grew at the fastest pace from 2021 to 2022.
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 2022, Indonesian importers spent the most on the following 10 subcategories of electronic products including consumer electronics.
- Phone system devices: US$6.4 billion (up 2.3% from 2021)
- Integrated circuits/microassemblies: $4 billion (up 37.9%)
- Insulated wire/cable: $1.4 billion (up 30.1%)
- Lower-voltage switches, fuses: $1.38 billion (up 13.3%)
- Solar power diodes/semi-conductors: $1.18 billion (up 110.7%)
- Electrical converters/power units: $1.15 billion (up 44.4%)
- TV/radio/radar device parts: $1 billion (down -23.9%)
- Electric storage batteries: $685.9 million (up 34%)
- Electrical/optical circuit boards, panels: $671.1 million (up 46.4%)
- Industrial or lab electric furnaces, ovens: $636.5 million (up 46.8%)
Among these import subcategories, Indonesia’s purchases of solar power diodes and semi-conductors (up 110.7%), Industrial or laboratory electric furnaces and ovens (up 46.8%) then electrical or optical circuit boards and panels (up 46.4%) grew at the fastest pace from 2021 to 2022.
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 2022, Indonesian importers spent the most on the following 10 subcategories of iron and steel as materials.
- Iron ferroalloys: US$3.1 billion (up 18.8% from 2021)
- Iron or non-alloy steel products (semi-finished): $2.4 billion (up 7%)
- Flat-rolled other alloy steel products: $1.65 billion (up 19.8%)
- Hot-rolled iron or non-alloy steel products: $1.56 billion (up 56.9%)
- Flat-rolled iron or non-alloy steel products (plated/coated): $1.1 billion (up 0.5%)
- Cold-rolled iron or non-alloy steel products: $782.6 million (up 14.7%)
- Iron or steel scrap: $624.4 million (down -13.4%)
- Alloy steel bars, rods: $471.3 million (up 19.2%)
- Flat-rolled stainless steel items: $439.9 million (up 22.1%)
- Iron or non-alloy steel angles, shapes, sections: $271.4 million (up 89.6%)
Among these import subcategories, Indonesia’s purchases of iron or non-alloy steel angles, shapes or sections (up 89.6%), hot-rolled iron or non-alloy steel products (up 56.9%) then flat-rolled stainless steel items (up 22.1%) grew at the fastest pace from 2021 to 2022.
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 April 7, 2023
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on April 7, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 7, 2023
International Trade Centre, Trade Map. Accessed on April 7, 2023
