The Treasurer’s Guide to Trade Finance

Indonesia

Trade information

Key trading partners

Imports by origin

China 14.8%

Singapore 14.6%

Japan 11.0%

South Korea 7.3%

EU 7.0%

Other 45.3%

Source: WTO, September 2012

Exports by destination

Japan 16.6%

China 11.3%

EU 10.1%

Singapore 9.1%

USA 8.1%

Other 44.8%

Indonesia imports exports

Bank accounts

ƒ Resident companies cannot hold local
currency (IDR) bank accounts outside
Indonesia.

ƒ Resident companies can hold foreign
currency bank accounts both within and
outside Indonesia.

ƒ Non-residents are permitted to hold local

currency accounts domestically but are only

permitted to hold current and time deposit

foreign currency accounts.

Principal exports

Oil and gas, electrical appliances, plywood,
textiles and rubber.

Documentation

Imports

ƒ Commercial invoice, packing list, terminal
handling receipts, import declaration form
(PIB), insurance document, bill of lading and
a cargo release order.

Exports

ƒ Export declaration form (PEB), packing list,
bill of lading and a commercial invoice.

Licences

Imports

ƒ Most goods imported into Indonesia require
an import licence.

ƒ In most cases, goods fall under the terms of
a general licence.

ƒ Importers of certain agricultural produce
and foodstuffs must be designated by the
Ministry of Trade (www.kemendag.go.id).

Exports

ƒ The Ministry of Trade provides trade permits

to export companies in Indonesia.

ƒ Some commodities can only be exported

from Indonesia with prior permission from

the Ministry of Trade; approval may be

temporarily withdrawn to maintain domestic

supply levels of certain products or to

address price stability issues.

Tariffs/Taxes

Imports

ƒ As a member of the ASEAN and participant

in the AFTA, Indonesia is subject to the

Common Effective Preferential Tariff

(CEPT) scheme, which applies tariff rates of

between zero and 5 percent to goods with

at least 40 percent ASEAN content if traded

within ASEAN. The CEPT covers around

98 percent of all tariffs.

ƒ Non-ASEAN country import tariffs are

implemented in accordance with AFTA and

WTO regulations. Capital goods and raw

materials are subject to a 5 percent tariff.