Indonesia-Singapore Bilateral Trade Analysis 2023
Complete trade statistics: $34.28B total volume •Indonesia deficit: $4.41B
Indonesia → Singapore
$14.93B
Exports (2023)
Singapore → Indonesia
$19.35B
Imports (2023)
Trade Balance
$4.41B
Deficit for Indonesia
Total Trade
$34.28B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Indonesia and Singapore. Green line shows exports from Indonesia, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Indonesia-Singapore commercial relationship and competitive positioning in global markets.
Indonesia → Singapore Exports
Export Market Intelligence
🎯 Strategic Export Focus
Indonesia's export portfolio to Singapore demonstrates strong diversification across multiple sectors, with petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas representing a key competitive advantage in this bilateral market.
Singapore → Indonesia Imports
Import Dependency Profile
📦 Import Strategy Analysis
Indonesia's import pattern from Singapore reveals strategic sourcingin petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Indonesia demonstrates competitive strength in exportingpetroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas to Singapore, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $34.28B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Indonesia-Singapore Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $34.28 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Indonesia maintains a deficit of $4.41 billion
- Export Focus: Indonesia's primary exports include petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, electrical machines and apparatus: having individual functions, not specified or included elsewhere in this chapter, n.e.c. in heading no. 8543
- Import Dependencies: Key imports from Singapore include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, petroleum bitumen: obtained from bituminous minerals, cyclic hydrocarbons: p-xylene
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $34.28B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Indonesia leveraging its comparative advantages in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Indonesia's specialization in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gascomplements Singapore's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $34.28B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $34.28B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $34.28 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas and petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Indonesia's trade deficit of $4.41 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Indonesia and Singapore represents a total trade volume of $34.28 billion in 2023. This partnership demonstrates an unfavorable trade balance for Indonesia, with imports exceeding exportsby $4.41 billion.
Export Strengths
Indonesia's exports to Singapore total $14.93 billion, with competitive advantages in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, representing $1.95B or13.0% of bilateral exports.
Import Dependencies
Imports from Singapore amount to $19.35 billion, highlighting economic interdependence in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, with Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils comprising51.5% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Indonesia's strategic sourcing from Singapore. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Indonesia and Singapore in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023