What are top 10 Indonesia's Exports in 2023

Top 10 Export Products of Indonesia in 2023

Indonesia’s top exports play a crucial role in the country’s economic growth. Indonesia has seen a huge jump in its export business in recent years according to the Indonesia export data. Indonesia’s exports accounted for $258.79 billion in 2023 with a decrease of 11% from the previous year and $62.30 billion in 2024 quarter 1.

Indonesia is one of the top exporters of commodities globally among 226 countries, ranking 28th in exports, according to the Indonesia Export Data and Trade Data Report for the year 2023. Indonesia’s exports make up a total share of 1.1% of global exports. In 2023, Indonesia's exports had the highest number of mineral fuels and mineral oils (22.99%), animal, vegetable, or microbial fats and oils (10.99%), and iron and steel (10.32%). In this article, we will learn more about the top 20 export products of Indonesia with the help of Indonesia export data in detail.

Key Trends and Highlights of Indonesia’s Exports

• Indonesia is the 28th largest exporter globally with 1.1% of the global export share.
• With the most natural resources and a developing export sector, Indonesia boasts the largest economy in Southeast Asia.
• According to Indonesia's export data for 2023, Indonesia exported goods worth $258.79 billion.
• As per the latest export statistics, Indonesia's exports amounted to $62.30 billion in 2024 Q1.
• The global economy's sluggish growth caused important commodities including coal, nickel, and palm oil to decline in price.
• Among the biggest exports from Indonesia are mineral oils, palm oil, paper goods, coffee, cocoa, textiles, rubber, electronics, and natural gas.
• With almost 46 million tons of palm oil exported each year, Indonesia holds the title of the world's largest palm oil producer.

Top 10 Exports of Indonesia in 2023

Regardless of the country selling a wide range of goods, the top 10 Indonesia export products according to Indonesia Export Data for the year 2023 are shown below. After multiple verifications, this list is filtered and created. Mineral fuels and mineral oils are Indonesia’s biggest exports worth $59.49 billion in 2023. 

1. Mineral fuels and mineral oils: $59.49 billion

Mineral fuels and mineral oils are the biggest exports of Indonesia in 2023 with a decline of 16% from the previous year. The 2-digit HS code for mineral fuels and oils is 27. The top mineral fuels and mineral oil exports of Indonesia in 2023 include:

• Coal and solid fuels: $34.59 billion
• Petroleum gas and gaseous hydrocarbons: $8.77 billion
• Lignite: $8.25 billion
• Petroleum oils: $4.44 billion
• Crude oil: $1.75 billion

2. Animal, vegetable, or microbial fats and oils: $28.45 billion

Animal, vegetable, or microbial fats and oils are the second-biggest Indonesian export in 2023 with a decline of 19% from the previous year. The two-digit HS code for Animal, vegetable, and microbial oils is 15. The major animal and vegetable oil exports from Indonesia in 2023 include:

• Palm oil and its fractions: $22.68 billion
• Coconut: $2.06 billion
• Margarine: $1.77 billion
• Hydrogenated Animal & vegetable oils: $1.25 billion
• Oxidized Animal & vegetable oils: $243.88 million

3. Iron and steel: $26.70 billion

Iron and steel are another major export commodity from Indonesia, with the nation exporting a huge quantity of iron and steel annually. Indonesia’s iron and steel exports saw a decline of 4% from the previous year. The two-digit HS code for iron and steel is 72. The main iron and steel exports from Indonesia are:

• Ferroalloys: $15.30 billion
• Flat-rolled products of stainless steel: $5.53 billion
• Stainless steel: $2.84 billion
• Semi-finished products of iron: $1.53 billion
• Flat-rolled products of iron: $669.64 million

4. Electrical machinery and equipment: $14.34 billion

Electrical machinery and equipment are among Indonesia's top exports, with a total value of $14.34 billion in 2023 with a 1% decline from the previous year. The 2-digit HS code for electrical machinery and equipment is 85. The biggest electrical machinery and equipment exports from Indonesia include:

• Telephones and smartphones: $2.54 billion
• Electrical machines and apparatus: $1.88 billion
• Insulated wires and cables: $1.70 billion
• Monitors and projectors: $1.26 billion
• Electronic integrated circuits: $735.83 million

5. Vehicles: $11.15 billion

With a total value of $11.15 billion in 2023, Indonesia has emerged as a key player in the automotive industry, producing a wide range of vehicles for both domestic consumption and international markets. Indonesia’s vehicle exports saw a 2% increase in value from the previous year. The two-digit HS code for vehicles is 87. The main vehicle exports from Indonesia are:

• Motor cars: $6.06 billion
• Parts and accessories for tractors: $2.03 billion
• Motorcycles: $1.22 billion
• Parts for motorcycles and bicycles: $1.10 billion
• Motor vehicles for the transport of goods: $399.38 million

6. Ores, slag, and ash: $8.72 billion

Indonesia is rich in natural resources, including ores, slag, and ash, which have a total export value of $8.72 billion in 2023 with a decrease of 15% from the previous year. The 2-digit HS code for ores, slag, and ash is 26. Its major exports are:

• Copper ores and concentrates: $8.32 billion
• Niobium, tantalum, or zirconium ores: $172.72 million
• Aluminum ores and concentrates: $68.11 million
• Slag, ash, and residues containing metals: $49.65 million
• Zinc ores and concentrates: $31.44 million

7. Natural or cultured pearls, precious stones, and metals: $7.50 billion

Indonesia is also a major exporter of natural or cultured pearls, precious stones, and metals, with a total export value of $7.50 billion in 2023, an increase of 19% from the previous year. The two-digit HS code for natural pearls, precious stones, and metals is 71. The major exports of this commodity by Indonesia include:

• Articles of jewelry and parts thereof: $5.52 billion
• Waste and scrap of precious metal: $859.16 million
• Gold: $848.31 million
• Pearls: $112.77 million
• Silver: $78.49 million

8. Nickel and articles thereof: $6.81 billion

Nickel and articles thereof are key exports for Indonesia, with a total value of $6.81 billion in 2023, a 14% increase from the last year. Indonesia is one of the world's largest producers of nickel, a crucial component in stainless steel and other alloys. The two-digit HS code for nickel and articles thereof is 75. Its top exports by Indonesia are:

• Nickel mattes: $6.76 billion
• Unwrought nickel: $37.75 million
• Articles of nickel: $9.31 million
• Waste and scrap of nickel: $3.63 million
• Tubes, pipes, and tube fittings: $306K

9. Nuclear reactors and machinery: $6.46 billion

Indonesia's export of nuclear reactors and machinery is another important sector, with a total value of $6.46 billion in 2023, a decline of 7% from the previous year. The two-digit HS code for nuclear reactors and machinery is 84. Its main exports by Indonesia include:

• Printing machinery: $1.35 billion
• Spark-ignition or internal combustion piston engine: $617.40 million
• Self-propelled bulldozers: $523.60 million
• Parts suitable for use with internal combustion piston engine: $469.16 million
• Refrigerators: $399.11 million

10. Footwear: $6.43 billion

The footwear industry is a significant contributor to Indonesia's export revenue, with a total value of $6.43 billion in 2023 and a decline of 17% from the previous year. The two-digit HS code for footwear is 64. Its top exports by Indonesia are:

• Footwear with outer soles of rubber: $2.97 billion
• Footwear with outer soles of plastics or leather: $2.40 billion
• Footwear with outer soles and uppers of rubber: $931.34 million
• Parts of footwear: $79.76 million
• Footwear with outer soles of rubber or plastics: $48.17 million

These are some examples of high-priced Indonesian exports. It should be noted that mineral fuels and oils accounted for the majority of Indonesia's total exports, with animal, vegetable, or microbial oils and fats coming in second according to the Indonesia export data for 2023.

Biggest Indonesia Export Partners

The major countries to which Indonesia shipped the most goods were as follows, according to the Indonesia export data for the year 2023 on the Indonesia exports.

1. China ($64.93 billion)
2. USA ($23.28 billion)
3. Japan ($20.78 billion)
4. India ($20.29 billion)
5. Singapore ($12.60 billion)
6. Malaysia ($12.46 billion)
7. Philippines ($11.03 billion)
8. South Korea ($10.30 billion)
9. Vietnam ($7.53 billion)
10. Thailand ($7.22 billion)

Analyzing the Indonesia export data revealed that China accounted for around 23.21% of all Indonesia exports. With a sizeable portion of all Indonesian exports, the USA was Indonesia's second-largest supplier behind China. It was evident from examining Indonesia's export data that close to 23.21% of all exports went to China. After China, the USA contributed significantly to Indonesia's overall exports, ranking second only to China.

Indonesia’s Export Statistics in the last 10 years

Who are the top Indonesian Export Companies?

• Pertamina (oil, natural gas)
• Gudang Garam (Tobacco)
• MedcoEnergi (oil, gas)
• Telekom Indonesia (Telecommunications services)
• Astra International (financial/industrial conglomerate)
• Bumi Resources (coal)
• Djarum (tobacco cigarettes)
• Dragon Computer & Communication (computer hardware)
• Krakatau Steel (steel products)
• United Tractors (heavy equipment)

Conclusion

The diverse range of export categories, including mineral oils, rubber, paper, apparel, wood, fish, pulp, organic chemicals, and plastics, highlight Indonesia's position as a key player in the global trade market. The Indonesian export products are a priceless and essential resource for its economy. About 60% of all Indonesian exports are made up of these items. The gross domestic product of Indonesia has increased as a result of exports, which have elevated Indonesia to the 24th-largest export economy in the world.

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