Indonesia is currently ranked sixth as a global trade partner with Thailand. In 2011, the trade value between Thailand and Indonesia was approximately 17 billion US dollars.[9] Indonesia is Thailand's third-largest trading partner in ASEAN, after Malaysia and Singapore,[2] and the trade volume between Thailand and Indonesia has grown over the years. Indonesia, with its large population, is a huge market for Thailand's agricultural products. Traditionally, Thailand is viewed as the supplier of food for Indonesia; for quite some times Indonesia have imported rice and fruits, especially durian, tamarind, custard apple, guava, pomelo, mango and longan.[2] On the other hand, Thailand's imports from Indonesia are dominated by energy commodities, such as coal, oil, and gas. However, the trade was unbalanced; Indonesia still recorded quite large[clarification needed] trade deficit over the years.[10] For most of the time, Thailand has enjoyed trade surpluses of US$1.2 billion in 2005, US$281 million in 2006 and US$1.2 billion in 2007. However, n September 2009, Indonesia had a trade surplus around US$62.7 million.[11]
Although both nations vow to increase trade volumes and open more trade opportunities between ASEAN members through ASEAN Free Trade Area, nevertheless each countries often applied trade regulations to protect each economic interest. For example Indonesian glass products in the form of glass blocks exported to Thailand are subjected to 30% trading protection duty for three years starting in 2011, in order to protect similar glass product of Thailand.[10][12]
Indonesia is currently ranked sixth as a global trade partner with Thailand. In 2011, the trade value between Thailand and Indonesia was approximately 17 billion US dollars.[9] Indonesia is Thailand's third-largest trading partner in ASEAN, after Malaysia and Singapore,[2] and the trade volume between Thailand and Indonesia has grown over the years. Indonesia, with its large population, is a huge market for Thailand's agricultural products. Traditionally, Thailand is viewed as the supplier of food for Indonesia; for quite some times Indonesia have imported rice and fruits, especially durian, tamarind, custard apple, guava, pomelo, mango and longan.[2] On the other hand, Thailand's imports from Indonesia are dominated by energy commodities, such as coal, oil, and gas. However, the trade was unbalanced; Indonesia still recorded quite large[clarification needed] trade deficit over the years.[10] For most of the time, Thailand has enjoyed trade surpluses of US$1.2 billion in 2005, US$281 million in 2006 and US$1.2 billion in 2007. However, n September 2009, Indonesia had a trade surplus around US$62.7 million.[11]Although both nations vow to increase trade volumes and open more trade opportunities between ASEAN members through ASEAN Free Trade Area, nevertheless each countries often applied trade regulations to protect each economic interest. For example Indonesian glass products in the form of glass blocks exported to Thailand are subjected to 30% trading protection duty for three years starting in 2011, in order to protect similar glass product of Thailand.[10][12]
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