Trade With Indonesia
T he economic and business relations between Indonesia and Slovakia are experiencing dynamic and vibrant developments. Although there are many opportunities for enhancing the relations in the area of trade, investment, tourism and employment cooperation, these efforts still encounter major obstacles and challenges. This is mainly because the businessmen of the two countries have not yet acknowledged each other's potential.
Indonesia's main exports to Slovakia were natural rubber, footwear, and video equipment. While Indonesia's main imports from Slovakia were performance equipment, ammunition and medical instruments. Indonesia experienced surpluses at €105.46 million and €122.38 million in 2017 and 2018 respectively.
Following the Slovak - Indonesia Business Meeting held in Jakarta in October 2018, both parties agreed to further enhance the bilateral business cooperation that shows more tangible results. In September 2019, coffee company Gravfarm Indonesia signed a cooperation contract with its partner Bozske Prichute Slovakia worth €1 (one) million in the distribution of premium Indonesian coffee in the Central European region.
Furthermore, in October 2019, eight Slovak businessmen participated in the 2019 Trade Expo Indonesia and were actively involved in the First Indonesia-Visegrad Business Forum event. The outcome of the visit, the Slovak businessmen have successfully made business transactions with their respective partners in Indonesia in the sectors of food-beverage, garment, textile, automobile components and energy.
Based on the aforementioned series of meetings and visits, the Indonesian Embassy in Bratislava identified several business opportunities between Indonesia and Slovakia that could be explored further in the sectors, i.e. waste to energy, meteorological technology, food (tuna), garments and textiles, automotive components, and plantation commodities (coffee, tea, cocoa, coconut sugar). Furthermore, another great potential is labour export of Indonesian professionals to Slovakia in hospitality, nursery, electronics, communications, and automotive manufacturing sectors.
Followings are the Indonesia’s Top 15 Trading Partners as well as their trade balance as of 2019:
|Country||Trade Balance (in billion US$)|
2017 : USD81.6 million
2018 : USD70.7 million
2019 : USD63.6 million
Trade balance in 2020 may decline for corona crisis.