As usual, before we delve deeper into Indonesia’s latest export and import statistics, we first take a look at the international trade environment.

International Trade

The United Nations Conference on Trade and Development (or UNCTAD) released a publication on 22 February 2024 in which it highlighted that “key shipping routes in the Red Sea, Black Sea and Panama Canal are simultaneously under threat, with far-reaching implications for inflation, and food and energy security”. UNCTAD refers to the recent attacks on commercial vessels in the Red Sea that as a consequence affect shipping through the Suez Canal. Ever since November 2023, Yemen's Iran-aligned Houthis launched drone and missile attacks in the Red Sea in support of Palestinians as the Israel-Hamas war continues. These actions have attracted retaliatory strikes by the US-British coalition but, so far, these have failed to stop the Houthis’ actions.

The Suez Canal is a vital lane for seaborne trade as this trade shortcut accounts for around 12 percent of global maritime traffic. Ongoing aggression forces firms to take the longer, more expensive route around Africa. According to an UNCTAD estimate, transits passing the Suez Canal decreased by 42 percent compared to its peak. With major players in the shipping industry temporarily suspending Suez transits, weekly container ship transits have fallen by 67 percent, while container carrying capacity, tanker transits, and gas carriers have experienced significant declines too.


This is the introduction of the article. Contact us to buy the full report (an electronic report, PDF) by email or send a message to +62.882.9875.1125 (including WhatsApp).

Price of this report (30 pages):

Rp 30,000