The United States and Indonesia meet regularly under the 1996 bilateral Trade and Investment Framework Agreement (TIFA). Under the TIFA, Indonesia and the United States work to address bilateral issues and coordinate on regional and multilateral issues.
In 2019, Indonesia GDP was an estimated $1.1 trillion (current market exchange rates); real GDP was up by an estimated 5.0%; and the population was 267 million. (Source: IMF)
U.S. goods and services trade with Indonesia totaled an estimated $31.8 billion in 2019. Exports were $10.5 billion; imports were $21.3 billion. The U.S. goods and services trade deficit with Indonesia was $10.7 billion in 2019.
Indonesia is currently our 28th largest goods trading partner with $27.9 billion in total (two way) goods trade during 2019. Goods exports totaled $7.7 billion; goods imports totaled $20.1 billion. The U.S. goods trade deficit with Indonesia was $12.4 billion in 2019.
Trade in services with Indonesia (exports and imports) totaled an estimated $3.9 billion in 2019. Services exports were $2.8 billion; services imports were $1.1 billion. The U.S. services trade surplus with Indonesia was $1.7 billion in 2019.
Exports
- Indonesia was the United States' 34th largest goods export market in 2019.
- U.S. goods exports to Indonesia in 2019 were $7.7 billion, down 5.4% ($438 million) from 2018 but up 51.4% from 2009.
- The top export categories (2-digit HS) in 2019 were: mineral fuels ($912 million), oilseeds and oleaginous fruits ( ) ($872 million), machinery ($678 million), wood pulp ($508 million), and food waste, animal feed ($469 million).
- U.S. total exports of agricultural products to Indonesia totaled $2.9 billion in 2019, our 11th largest agricultural export market. Leading domestic export categories include: soybeans ($864 million), cotton ($416 million), wheat ($282 million), dairy products ($239 million), and distillers grains ($184 million).
- U.S. exports of services to Indonesia were an estimated $2.8 billion in 2019, 4.8% ($128 million) more than 2018, and 75.9% greater than 2009 levels. Leading services exports from the U.S. to Indonesia were in the travel, financial services, and intellectual property (trademarks) sectors.
Imports
• Indonesia was the United States' 22nd largest supplier of goods imports in 2019.
• U.S. goods imports from Indonesia totaled $20.1 billion in 2019, down 3.3% ($681 million) from 2018, but up 55.7% from 2009.
- The top import categories (2-digit HS) in 2019 were: woven apparel ($2.2 billion), knit apparel ($2.2 billion), rubber ($1.7 billion), footwear ($1.7 billion), and electrical machinery ($1.5 billion).
- U.S. total imports of agricultural products from Indonesia totaled $3.0 billion in 2019, our 10th largest supplier of agricultural imports. Leading categories include: tropical oils ($880 million), rubber & allied products ($867 million), cocoa paste & cocoa butter ($312 million), unroasted coffee ($301 million), and spices ($177 million).
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U.S. imports of services from Indonesia were an estimated $1.1 billion in 2019, 4.0% ($44 million) more than 2018, and 127% greater than 2009 levels. Leading services imports from Indonesia to the U.S. were in the travel, technical and other services, and financial services sectors.
Trade Balance
- The U.S. goods trade deficit with Indonesia was $12.4 billion in 2019, a 1.9% decrease ($243 million) over 2018.
- The United States had a services trade surplus of an estimated $1.7 billion with Indonesia in 2019, up 5.3% from 2018.
Investment
- U.S. foreign direct investment (FDI) in Indonesia (stock) was $12.2 billion in 2019, a 18.7% increase from 2018. U.S. direct investment in Indonesia is led by mining, manufacturing, and nonbank holding companies.
- Indonesia's FDI in the United States (stock) was $399 million in 2019, up 16.0% from 2018. There is no information on the distribution of Indonesia FDI in the U.S.
- Sales of services in Indonesia by majority U.S.-owned affiliates were $2.8 billion in 2017 (latest data available), while sales of services in the United States by majority Indonesia-owned firms were $113 million
