China, Indonesia's Main Non-Oil and Gas Export Market in 2022

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Adi Ahdiat 16/01/2023 18:00 WIB

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According to BPS data, China was Indonesia's largest non-oil and gas export destination in 2022.

Top 13 Export Destinations for Indonesia's Non-Oil and Gas Products (January-December 2022)

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China, Indonesia's Main Non-Oil and Gas Export Market in 2022

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Top 13 Export Destinations for Indonesia's Non-Oil and Gas Products (January-December 2022)

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According to a report by the Central Statistics Agency (BPS), Indonesia's export value reached US$291.98 billion in 2022, the highest record since 2012.

The majority (94.51%) of Indonesia's national export value in 2022 came from non-oil and gas exports, such as agricultural/forestry/fisheries exports, processed industry, metal/mineral mining commodities, and others.

The largest destination for non-oil and gas exports in 2022 was China, with a value of US$63.55 billion.

"The main commodities exported to China during that period were iron/steel, coal, and lignite," said BPS in its report.

Indonesia's non-oil and gas commodities were also purchased by the United States, India, Japan, Malaysia, South Korea, Singapore, Taiwan, Thailand, the Netherlands, Australia, Germany, and Italy. However, the export value to these countries was significantly lower than to China, as shown in the graph.

In total, Indonesia's exports to these 13 main destinations reached US$210.79 billion. This accounts for 73.14% of the total national export value in 2022 and increased by 25.8% compared to 2021.

Although Indonesia's foreign trade trend has strengthened, the World Bank predicts that its performance will weaken this year due to declining export demand.

In its December 2022 edition of the Indonesia Economic Prospects (IEP) report, the World Bank projects that Indonesia's economic growth will fall from 5.2% in 2022 to 4.8% in 2023.

"Weakening global demand could harm Indonesia's export performance and reduce foreign investment flows. Global monetary tightening could also trigger larger capital outflows and rupiah depreciation, which would then trigger inflation," said the World Bank in the report.

Editor : Adi Ahdiat

"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."