Indonesia is the Largest Exporter of Vehicles (excluding railway rolling stock) to Vietnam

Indonesia recorded US$8.29 billion in exports to Vietnam as of December 2022. This figure represents a 20.96% increase compared to the previous year's exports, which totaled US$6.85 billion.

Indonesia's trade record with Vietnam shows an upward trend in exports over the past 10 years. 2022 marked a historic high with the highest export value ever recorded.

Of the 97 products (two-digit HS codes) exported to Vietnam, 65 products were worth more than one billion dollars. Furthermore, according to Trademap data, three main Indonesian products are exported to Vietnam annually. This indicates a significant dependence on these export products. The majority of other products (88 in total) are also exported to other countries.

The following is a list of the top five products exported by Indonesia to Vietnam, ordered from highest to lowest transaction value:

1. Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof.

Indonesia exported a significant amount of Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof. In the Trademap classification, these vehicles fall under HS code 87. In 2022, Indonesia exported US$1.29 billion worth of these products. This represents an increase compared to the previous period, which recorded US$856,190,000.

2. Mineral fuels, mineral oils and products of their distillation.

Indonesia's second-largest export to Vietnam was Mineral fuels, mineral oils and products of their distillation. The export value in 2022 was US$1.18 billion, an increase from US$1.09 billion in the previous period.

3. Iron and steel.

Indonesia exports iron and steel to 86 countries. Exports to Vietnam ranked third in 2022, totaling US$1.05 billion. Other top five export destinations for iron and steel include China, Taiwan, India, and Malaysia.

4. Animal, vegetable or microbial fats and oils and their fractions.

Exports of Animal, vegetable or microbial fats and oils and their fractions to Vietnam ranked tenth in 2022, totaling US$807,419. Other major export destinations for these products include China, India, Pakistan, the United States, and Malaysia.

5. Copper and articles thereof.

Exports of Copper and articles thereof to Vietnam also ranked third in 2022, totaling US$394,987. Other top five export destinations include Malaysia, China, Thailand, and Taiwan.