Indonesia Crude Oil Import 2026 Market Overview & Trends

Unlocking Opportunities in Indonesia Crude Oil Import Market: Trends, Strategies, and Growth Insights

$10.4 b

Market Size

missing data

Import Volume

Australia

Key Trading Partner

~32.18%

Market Growth Rate

Crude Oil Market Overview in Indonesia

AI Insight

Indonesia's crude oil imports have experienced significant expansion, growing from $3.39 billion in 2020 to $10.35 billion in 2024, supported by a 32.18% growth rate. Market dynamics show a peak in 2022, followed by stabilization. Nigeria ($2.9B) and Saudi Arabia ($2.1B) remain the dominant suppliers. However, competitive shifts are evident as Australia and Brunei emerge with growth rates exceeding 65%. This indicates a strategic move toward regional diversification while maintaining core African and Middle Eastern partnerships for energy security.

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5-Year Import Volume

AI Insight

Indonesia's import value surged from $3.39 billion in 2020 to a peak of $11.46 billion in 2022. Although 2024 saw a slight decrease to $10.35 billion, the overall trend reflects a significant long-term increase in energy demand compared to pre-2021 levels.

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Top 5 Supplier Countries

Nigeria

34.26%

Saudi Arabia

24.28%

Angola

20.26%

Gabon

12.27%

Australia

8.93%

AI Insight

Nigeria is the primary exporter to Indonesia in 2024, contributing $2.90 billion. Saudi Arabia follows with $2.05 billion, while Angola and Gabon also represent major suppliers, highlighting a strong reliance on West African and Middle Eastern crude oil sources.

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Import Growth Analysis

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32.2%Annual Growth

AI Insight

The market demonstrates a substantial 32.18% growth rate. This double-digit expansion signifies a period of rapid acceleration in trade value, likely driven by rising energy consumption and shifting global price dynamics within the crude oil sector.

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Emerging Supply Markets

AI Insight

Australia and Brunei are the leading emerging partners, showing impressive growth rates of 75.98% and 66.36% respectively. Angola also maintains strong momentum at 50.84%, suggesting Indonesia is successfully diversifying its import portfolio across different regions.

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Related Products You May Import

AI Insight

The trade is concentrated in petroleum crude oil (HS 270900), which accounted for a total value of $10.35 billion in 2024. This single product category defines the bulk of the sector's import activity for the year.

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Crude Oil Import Requirements in Indonesia

Before Shipment

1. Importer Identification Number (API) and NIB. 2. Import Approval (PI) from Ministry of Trade. 3. Recommendation from Ministry of Energy and Mineral Resources. 4. Mandatory Surveyor Report (LS) from origin. 5. Registration with the Directorate General of Oil and Gas.

Documentation Required

1. Commercial Invoice. 2. Bill of Lading. 3. Packing List. 4. Certificate of Origin (COO). 5. Certificate of Analysis (COA) detailing technical specifications.

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Crude Oil Imports and Free Trade Agreements in Indonesia

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ASEAN Free Trade Area (AFTA)
Regional Comprehensive Economic Partnership (RCEP)
Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA)
ASEAN-China Free Trade Area (ACFTA)
Indonesia-Japan Economic Partnership Agreement (IJEPA)

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Features

Tariff Tracker

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Import Requirements

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