Import and Export Procedures in Indonesia – Best Practices
Spread across more than 17,500 islands, the Indonesian archipelago is a pivotal trading hub in Southeast Asia. The island country borders Malaysia, Timor-Leste, and Papua New Guinea by land, and Christmas Island, India, the Philippines, Singapore, Thailand, Vietnam, Australia and Palau by sea.
In 2016, Indonesia exported US$140 billion worth of goods and imported US$ 132 billion, resulting in a positive trade balance. The country’s top export destinations are China (US$16.8 billion), the United States (US$16.2 billion), Japan (US$16.2 billion), Singapore (US$11.2 billion), and India (US$10.1 billion). The country imports predominantly from China (US$32.1 billion), Singapore (US$25.8 billion), Japan (US$11.3 billion), Malaysia (US$6.67 billion), and South Korea (US$6.61billion).
This is an exerpt from an article appearing in ASEAN Briefing, a subsidiary of Dezan Shira & Associates. For the latest economic, regulatory and business news from Vietnam, visit aseanbriefing.com.