Trade between the closest Malaysian neighbor - Indonesia and Russia rises by 40% to $3.3 bln in 2021
Russian producers mainly buy palm oil, machinery and equipment, natural rubber, footwear and cocoa beans and products from them.
Trade between Russia and Indonesia grew by 40% in 2021 from $2.3 bln to $3.3 bln, updating all-time high over the past three decades, Russia's trade representative in Indonesia Sergey Rossomakhov said.
"Last year, we reached a certain historical maximum for the entire post-Soviet period - $3.3 bln, including $681.5 mln from Russian exports and $2.6 bln - imports from Indonesia," Rossomakhov said.
He clarified that imports increased by almost 50% over the year from $1.78 to $2.65 bln, Russian producers mainly buy palm oil (53% of the share of imports), machinery and equipment (9.8%), natural rubber (5.7%), footwear (5.3%), cocoa beans and products from them (4.3%) from Indonesia.
Exports also increased from $563 mln to $681 mln, which was 20.9%. Russia exports fertilizers (35%), mineral fuels, oil and oil products (22.9%), ferrous metals and their products (16.6%), and aluminum (6.6%) to Indonesia. At the same time, according to the estimates of the trade mission, on average a third of Russia’s real exports for around $300 mln made through other countries, such as Singapore, are not included in the total share.
Rossomakhov noted that the economy of Indonesia is one of the largest among the countries of South Asia. Energy, the aerospace industry, transport, shipbuilding, IT technologies, agriculture, chemical industry, and medicine are among the promising areas of cooperation between the two countries. Indonesia does not impose sanctions against Russia, despite pressure from Western countries, the trade representative noted.
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Trade between Russia and Indonesia grew by 40% in 2021 from $2.3 bln to $3.3 bln, updating all-time high over the past three decades, Russia's trade representative in Indonesia Sergey Rossomakhov said.
"Last year, we reached a certain historical maximum for the entire post-Soviet period - $3.3 bln, including $681.5 mln from Russian exports and $2.6 bln - imports from Indonesia," Rossomakhov said.
He clarified that imports increased by almost 50% over the year from $1.78 to $2.65 bln, Russian producers mainly buy palm oil (53% of the share of imports), machinery and equipment (9.8%), natural rubber (5.7%), footwear (5.3%), cocoa beans and products from them (4.3%) from Indonesia.
Exports also increased from $563 mln to $681 mln, which was 20.9%. Russia exports fertilizers (35%), mineral fuels, oil and oil products (22.9%), ferrous metals and their products (16.6%), and aluminum (6.6%) to Indonesia. At the same time, according to the estimates of the trade mission, on average a third of Russia’s real exports for around $300 mln made through other countries, such as Singapore, are not included in the total share.
Rossomakhov noted that the economy of Indonesia is one of the largest among the countries of South Asia. Energy, the aerospace industry, transport, shipbuilding, IT technologies, agriculture, chemical industry, and medicine are among the promising areas of cooperation between the two countries. Indonesia does not impose sanctions against Russia, despite pressure from Western countries, the trade representative noted.
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