Indonesia’s non-oil and gas exports to the BRICS countries—China, India, Brazil, Russia, and South Africa—reached a staggering $84.37 billion in 2024, accounting for 33.91% of the nation’s total non-oil and gas exports. This milestone was announced by the Central Statistics Agency (BPS) during a press conference in Jakarta. Acting Head of BPS, Amalia Adininggar Widyasanti, emphasized, “Throughout 2024, Indonesia’s non-oil and gas exports to these five countries will reach 84.37 billion US dollars.”
China emerged as the dominant trading partner, with exports totaling $60.22 billion.Key sectors included iron and steel ($16.07 billion), mineral fuels ($13.89 billion), and nickel and related goods ($6.26 billion). India followed closely, with exports valued at $20.32 billion, driven by mineral fuels ($6.98 billion), animal fats and oils ($3.96 billion), and iron and steel ($1.86 billion). Brazil, Russia, and South africa, though smaller in volume, showcased diverse export portfolios. Brazil’s top imports from Indonesia where animal fats and oils ($476.51 million), electrical machinery and equipment ($247.87 million),and vehicles and parts ($186.64 million). Russia’s primary imports included animal oils ($733.9 million), cocoa and processed products ($140.02 million), and coffee and spices ($115.95 million). South Africa’s imports, totaling $0.78 billion, were led by animal fats and oils ($316.72 million).
Indonesia’s trade balance in 2024 also reflected a surplus of $31.04 billion, with exports totaling $264.7 billion and imports at $233.66 billion. This consistent performance underscores the nation’s robust economic strategy.
Key export Highlights to BRICS Countries (2024)
| Country | Total Exports (USD) | Top Export Sectors |
|————-|———————–|———————–|
| China | $60.22 billion | Iron & Steel, Mineral fuels, Nickel |
| India | $20.32 billion | Mineral Fuels, Animal Fats & Oils, Iron & Steel |
| Brazil | $1.72 billion | Animal Fats & Oils, Electrical Machinery, Vehicles |
| Russia | $1.31 billion | Animal Oils,Cocoa,Coffee & Spices |
| south Africa | $0.78 billion | Animal Fats & Oils |
This data highlights Indonesia’s pivotal role in global trade, particularly within the BRICS framework.As the nation continues to diversify its export portfolio, economists suggest further strategic adjustments to sustain this growth trajectory.
Indonesia’s Staggering $84.37 Billion Non-Oil & Gas Exports to BRICS countries: Insights from Trade Expert Dr. Aditya Chandra
In 2024, Indonesia’s non-oil and gas exports to the BRICS nations—China, India, Brazil, Russia, and South Africa—reached a remarkable $84.37 billion,accounting for 33.91% of the country’s total non-oil and gas exports.This milestone, announced by the Central Statistics Agency (BPS), underscores Indonesia’s growing significance in global trade. To delve deeper into this achievement, World Today News Senior Editor, Maria Thompson, sits down with Dr. Aditya Chandra, a leading expert in international trade and economic strategy, to explore the dynamics behind Indonesia’s export success and its implications for the BRICS framework.
The Interview
Maria Thompson: Dr. Chandra, Indonesia’s exports to BRICS countries have surged to $84.37 billion in 2024. What factors have driven this remarkable growth?
Dr. Aditya Chandra: Several factors have contributed to this surge. First, Indonesia has strategically diversified its export portfolio, focusing on high-demand sectors like iron and steel, mineral fuels, and animal fats and oils. second, the BRICS nations, especially China and India, have been pivotal trading partners due to their massive consumption needs.Additionally, Indonesia’s trade policies have been proactive, fostering stronger economic ties with these countries. This synergy has propelled the nation’s exports to unprecedented levels.
Maria Thompson: China dominates this trade relationship, with exports totaling $60.22 billion. What sectors are driving this partnership?
Dr. Aditya Chandra: China’s demand for Indonesian iron and steel, mineral fuels, and nickel has been the cornerstone of this partnership. These sectors align with China’s industrial and energy needs,making Indonesia a critical supplier. Moreover, the bilateral trade agreements between the two nations have streamlined logistics and reduced trade barriers, further boosting the export volumes.
maria Thompson: India is another key partner,with exports valued at $20.32 billion.How does Indonesia cater to India’s specific needs?
Dr. Aditya Chandra: India’s reliance on mineral fuels, animal fats and oils, and iron and steel mirrors its growing industrial and energy sectors. Indonesia’s ability to provide these resources at competitive prices has solidified its position as a key supplier. The cultural and economic similarities between the two nations also foster smoother trade negotiations, enhancing this bilateral relationship.
Maria Thompson: While brazil, Russia, and south Africa have smaller export volumes, they showcase diverse portfolios. What makes these markets unique?
Dr.Aditya Chandra: These markets are unique due to their specific demands. Brazil’s focus on animal fats and oils, electrical machinery, and vehicles reflects its agricultural and industrial sectors. Russia’s imports of animal oils, cocoa, and coffee highlight its consumer preferences. South Africa’s emphasis on animal fats and oils aligns with its agricultural needs. Indonesia’s ability to cater to these niche demands demonstrates its export versatility.
Maria Thompson: Indonesia’s trade surplus in 2024 stood at $31.04 billion. How does this reflect the nation’s economic strategy?
Dr. Aditya Chandra: The surplus underscores Indonesia’s robust economic strategy. By focusing on high-demand sectors and maintaining competitive pricing, the nation has consistently outperformed in global trade. This surplus also indicates effective trade policies, reduced import dependency, and a strong export-driven economy. It’s a testament to Indonesia’s resilience and strategic adaptability in a dynamic global market.
Maria Thompson: Economists suggest further strategic adjustments to sustain this growth. What measures woudl you recommend?
Dr. Aditya Chandra: To sustain this trajectory, Indonesia should continue diversifying its export portfolio, exploring emerging sectors like renewable energy technologies and digital services. Strengthening trade agreements, enhancing logistics infrastructure, and investing in R&D for innovative products are also crucial. Additionally, fostering deeper ties with BRICS nations through joint ventures and partnerships will ensure long-term growth.
Maria Thompson: Thank you, Dr. Chandra, for your insightful analysis. This conversation highlights Indonesia’s pivotal role in global trade and its promising future within the BRICS framework.
Dr. Aditya Chandra: Thank you,Maria. Indonesia’s achievements in 2024 are a testament to its strategic prowess and adaptability.I’m optimistic about its continued growth and its contributions to the BRICS economic alliance.
This interview emphasizes Indonesia’s remarkable export performance and its strategic significance in the global trade landscape. Stay tuned to World Today News for more in-depth analyses on international economics and trade dynamics.
