Indonesia Exported US$28.66 Million Worth of Iron to Portugal in 2023
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Indonesia recorded exports to Portugal worth US$140.91 million as of December 2023. This figure represents an 8.33% increase compared to the previous year's exports, which totaled US$130.07 million.
Indonesia's trade record with Portugal shows a significant decrease in exports over the past 10 years. The lowest export value was US$105.8 million, while the highest reached US$163.39 million.
Of the 97 products (two-digit HS codes) exported to Portugal, 42 products were worth more than one billion dollars. Furthermore, according to Trademap data, 61 main Indonesian products are exported to Portugal annually. In other words, these products are the mainstay of Indonesian exports to Portugal. The remaining products are largely also exported to other countries.
The following is a list of the top five Indonesian products exported to Portugal, ordered from highest to lowest transaction value:
1. Iron and Steel
Iron and steel (HS code 72) are the top export to Portugal, with a value of US$28.66 million. This represents an increase compared to the previous period, which recorded US$4,751,000.
2. Footwear, headgear and the like
Indonesia's second-largest export to Portugal is footwear, headgear and the like, with a value of US$24.8 million in 2023. This is lower than the previous period's US$32,235,000.
3. Rubber
Another significant export is rubber, valued at US$11.4 million. This represents an increase compared to the previous period's US$5,460,000. Besides Portugal, Indonesia also relies on rubber exports to the United States, Germany, China, Mexico, and France. In addition to these major countries, Indonesia exports rubber to four other countries.
4. Fish and crustaceans, molluscs and other aquatic invertebrates
Portugal is the sole destination for Indonesian exports of fish and crustaceans, molluscs and other aquatic invertebrates. In 2023, Indonesia exported US$10.91 million worth of these products to Portugal. The five other countries that are sources of these exports are the United States, China, Japan, Spain, and Italy.
5. Man-made staple fibers
Indonesia exports man-made staple fibers to only one country, with Portugal being the largest recipient. In 2023, Indonesia exported US$9.88 million worth of these products to Portugal. Other countries among the top five export destinations include Vietnam, Afghanistan, Other Africa, Albania, and Algeria.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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