Indonesia-Thailand Bilateral Trade Analysis 2023
Complete trade statistics: $18.39B total volume •Indonesia deficit: $2.49B
Indonesia → Thailand
$7.95B
Exports (2023)
Thailand → Indonesia
$10.44B
Imports (2023)
Trade Balance
$2.49B
Deficit for Indonesia
Total Trade
$18.39B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Indonesia and Thailand. 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-Thailand commercial relationship and competitive positioning in global markets.
Indonesia → Thailand Exports
Export Market Intelligence
🎯 Strategic Export Focus
Indonesia's export portfolio to Thailand demonstrates strong diversification across multiple sectors, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
Thailand → Indonesia Imports
Import Dependency Profile
📦 Import Strategy Analysis
Indonesia's import pattern from Thailand reveals strategic sourcingin sugars: cane sugar, raw, in solid form, other than as specified in subheading note 2 to this chapter, not containing added flavouring or colouring matter, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Indonesia demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to Thailand, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $18.39B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Indonesia-Thailand Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $18.39 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Indonesia maintains a deficit of $2.49 billion
- Export Focus: Indonesia's primary exports include oils: petroleum oils and oils obtained from bituminous minerals, crude, coal: (other than anthracite and bituminous), whether or not pulverised but not agglomerated, vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc
- Import Dependencies: Key imports from Thailand include sugars: cane sugar, raw, in solid form, other than as specified in subheading note 2 to this chapter, not containing added flavouring or colouring matter, cereals: rice, semi-milled or wholly milled, whether or not polished or glazed, vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a gvw not exceeding 5 tonnes), n.e.c. in item no 8704.1
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 $18.39B 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 oils: petroleum oils and oils obtained from bituminous minerals, crude.
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 oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements Thailand's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in sugars: cane sugar, raw, in solid form, other than as specified in subheading note 2 to this chapter, not containing added flavouring or colouring matter.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $18.39B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $18.39B 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 $18.39 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in oils: petroleum oils and oils obtained from bituminous minerals, crude and sugars: cane sugar, raw, in solid form, other than as specified in subheading note 2 to this chapter, not containing added flavouring or colouring matter demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Indonesia's trade deficit of $2.49 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 Thailand represents a total trade volume of $18.39 billion in 2023. This partnership demonstrates an unfavorable trade balance for Indonesia, with imports exceeding exportsby $2.49 billion.
Export Strengths
Indonesia's exports to Thailand total $7.95 billion, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $1.42B or17.9% of bilateral exports.
Import Dependencies
Imports from Thailand amount to $10.44 billion, highlighting economic interdependence in sugars: cane sugar, raw, in solid form, other than as specified in subheading note 2 to this chapter, not containing added flavouring or colouring matter, with Sugars: cane sugar, raw, in solid form, other than as specified in Subheading Note 2 to this chapter, not containing added flavouring or colouring matter comprising11.1% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Indonesia's strategic sourcing from Thailand. 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 Thailand in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023