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 2018, Indonesia GDP was an estimated $1.0 trillion (current market exchange rates); real GDP was up by an estimated 5.2%; and the population was 264 million. (Source: IMF)
U.S. goods and services trade with Indonesia totaled an estimated $32.9 billion in 2018. Exports were $10.8 billion; imports were $22.1 billion. The U.S. goods and services trade deficit with Indonesia was $11.3 billion in 2018.
Indonesia is currently our 26th largest goods trading partner with $29.0 billion in total (two way) goods trade during 2018. Goods exports totaled $8.2 billion; goods imports totaled $20.8 billion. The U.S. goods trade deficit with Indonesia was $12.7 billion in 2018.
Trade in services with Indonesia (exports and imports) totaled an estimated $3.9 billion in 2018. Services exports were $2.6 billion; services imports were $1.2 billion. The U.S. services trade surplus with Indonesia was $1.4 billion in 2018.
According to the Department of Commerce, U.S. exports of Goods and Services to Indonesia supported an estimated 56 thousand jobs in 2015 (latest data available) (40 thousand supported by goods exports and 16 thousand supported by services exports).
- Indonesia was the United States' 34th largest goods export market in 2018.
- U.S. goods exports to Indonesia in 2018 were $8.2 billion, up 19.1% ($1.3 billion) from 2017 and up 44.8% from 2008.
- The top export categories (2-digit HS) in 2018 were: miscellaneous grain, seeds, fruit (soybeans) ($1.1 billion), aircraft ($790 million), mineral fuels ($683 million), machinery ($651 million), and cotton ($601 million).
- U.S. total exports of agricultural products to Indonesia totaled $3.1 billion in 2018, our 10th largest agricultural export market. Leading domestic export categories include: soybeans ($999 million), cotton ($600 million), wheat ($177 million), distillers grains ($175 million), and dairy products ($166 million).
- U.S. exports of services to Indonesia were an estimated $2.6 billion in 2018, 3.6% ($100 million) less than 2017, but 57.2% greater than 2008 levels. Leading services exports from the U.S. to Indonesia were in the travel, financial services, and intellectual property (industrial processes) sectors.
- Indonesia was the United States' 23rd largest supplier of goods imports in 2018.
- U.S. goods imports from Indonesia totaled $20.8 billion in 2018, up 3.1% ($636 million) from 2017, and up 31.9% from 2008.
- The top import categories (2-digit HS) in 2018 were: knit apparel ($2.3 billion), woven apparel ($2.2 billion), rubber ($1.8 billion), footwear ($1.5 billion), and mineral fuels ($1.3 billion).
- U.S. total imports of agricultural products from Indonesia totaled $3.4 billion in 2018. Leading categories include: tropical oils ($1.1 billion), rubber & allied products ($932 million), cocoa paste & cocoa butter ($364 million), coffee, unroasted ($290 million), and spices ($171 million).
- U.S. imports of services from Indonesia were an estimated $1.2 billion in 2018, 7.7% ($88 million) more than 2017, and 135% greater than 2008 levels. Leading services imports from Indonesia to the U.S. were in the travel, technical and other services, and financial services sectors.
- The U.S. goods trade deficit with Indonesia was $12.7 billion in 2018, a 5.0% decrease ($672 million) over 2017.
- The United States has a services trade surplus of an estimated $1.4 billion with Indonesia in 2018, down 11.7% from 2017.
- U.S. foreign direct investment (FDI) in Indonesia (stock) was $11.1 billion in 2018, a 26.6% decrease from 2017. U.S. direct investment in Indonesia is led by mining, nonbank holding companies, and depository institutions.
- Indonesia's FDI in the United States (stock) was $350 million in 2018, up 12.5% from 2017.
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.