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Indonesia-India Trade Overview 2023

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  India and Indonesia share a very strong trade relationship. Indonesia is a very significant economic partner of India across South east Asian countries. The bilateral trade is growing at an expressive rate. According to the Indonesia import export data reports, total trade was valued around $38 billion during 2022. Whereas, it was $26 billion in the fiscal year 2021. Both the nations are working cooperatively to cross the $50 billion mark by 2025. India is the 4th most favoured destination for Indonesian exports. According to the Indonesia export data reports, Indonesia’s overall exports to India were accounted to be over $15 billion dollars in FY 2022. India is a very niche market for Indonesia's coal, crude palm oil imports.  In the fiscal year 2022, India had imported over $5 billion worth of palm oil from Indonesia. Whereas in the current year, India's palm oil shipments crossed over 15 MMT. Apart from Indonesia, Thailand and Malaysia are the most favoured destinations...