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. The latest information regarding significant trade barriers can be found in the 2021 National Trade Estimate Report, see here.
Indonesia Trade & Investment Summary
U.S. goods and services trade with Indonesia totaled an estimated $47.5 billion in 2022. Exports were $12.1 billion; imports were $35.4 billion. The U.S. goods and services trade deficit with Indonesia was $23.3 billion in 2022.
U.S. goods exports to Indonesia in 2022 were $9.8 billion, up 4.5 percent ($421 million) from 2021 and up 23 percent from 2012. U.S. goods imports from Indonesia totaled $34.5 billion in 2022, up 27.7 percent ($7.5 billion) from 2021, and up 92 percent from 2012. The U.S. goods trade deficit with Indonesia was $24.7 billion in 2022, a 40.1 percent increase ($7.1 billion) over 2021.
U.S. exports of services to Indonesia were an estimated $2.3 billion in 2022, 24.2 percent ($448 million) more than 2021, and 9 percent greater than 2012 levels. U.S. imports of services from Indonesia were an estimated $809 million in 2022, 56.2 percent ($291 million) more than 2021, and 33 percent greater than 2012 levels. Leading services exports from the U.S. to Indonesia were in the travel, financial services, and intellectual property sectors. The United States had a services trade surplus of an estimated $1.5 billion with Indonesia in 2022, up 11.8 percent from 2021.
U.S. foreign direct investment (FDI) in Indonesia (stock) was $11.9 billion in 2022, a 7.0 percent decrease from 2021. U.S. direct investment in Indonesia is led by mining, manufacturing, and nonbank holding companies.
Indonesia's FDI in the United States (stock) was $464 million in 2022, up 0.7 percent from 2021.