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Indonesia recorded exports to Lithuania worth US$38.51 million as of December 2023. This figure represents a 229.22% increase compared to the previous year's exports, which were recorded at US$11.7 million.
Indonesia's trade record with Lithuania shows a significant decline in exports over the past 10 years. 2023 marks a historical record with the highest export value ever recorded.
Of the 97 products (two-digit HS codes) exported to Lithuania, 37 products were worth more than one billion dollars. Furthermore, according to Trademap data, there are 45 main Indonesian products exported annually to this country. In other words, these products are the mainstay of Indonesian exports to Lithuania. The rest are mostly products also widely exported to other countries.
The following is a list of the top five Indonesian products exported to Lithuania, ordered from highest to lowest transaction value:
1. Iron or steel
Iron or steel, categorized under HS code 73, ranks first in exports to Lithuania. Indonesia exported US$14.68 million worth of these products. This represents an increase compared to the previous period, which recorded US$6,000.
2. Animal, vegetable or microbial fats and oils and their fractions
Falling under HS code 15, animal, vegetable or microbial fats and oils and their fractions are grouped together with prepared edible fats. Indonesia exported US$5.18 million worth of these products.
3. Paper and paperboard
Next, Indonesia exported a significant amount of paper and paperboard to Lithuania, totaling US$3.56 million. This is an increase compared to the previous period, which recorded US$867,000. Lithuania is the sole export destination for this product from Indonesia. While Lithuania is the largest export destination for this product, the top five export destinations also include the United States, Germany, France, the United Kingdom, and Italy.
4. Organic chemicals
Exports of organic chemicals to Lithuania are currently the largest. Indonesia exported US$2.6 million worth of these products to Lithuania. Other major export destinations for organic chemicals include the United States, China, Germany, Belgium, and India.
5. Machinery and electrical equipment and parts
Exports of machinery and electrical equipment and parts to Lithuania are also significant. In 2023, Indonesia recorded exports totaling US$2.21 million. Other top five export destinations include China, the United States, Hong Kong, China, Germany, and Singapore.
"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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