Indonesia Exported US$4.99 Billion Worth of Mineral Fuels to Malaysia in 2023

Indonesia recorded exports to Malaysia worth US$12.46 billion as of December 2023. This figure shows a 19.36% decrease compared to the previous year's exports, which were recorded at US$15.45 billion.

Indonesia's trade record with Malaysia shows an upward trend in exports over the past 10 years. Indonesia's lowest export value was US$7.11 billion, and the highest was US$15.45 billion.

Of the 97 products (two-digit HS codes) exported to Malaysia, 46 products were worth more than one billion dollars. Furthermore, according to Trademap data, 95 main Indonesian products are exported to Malaysia annually. In other words, these products are the mainstay of Indonesian exports to Malaysia. Most of these products are also exported to other countries.

The following is a list of the top five products exported by Indonesia to Malaysia. This list is ordered from the highest to lowest transaction value.

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

Falling under HS code 27, mineral fuels, mineral oils and products of their distillation are a group of export goods categorized together with bituminous substances and mineral waxes. Exports of this product to Malaysia ranked first. Indonesia exported US$4.99 billion worth of these products to Malaysia. The export value of mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes was lower than the previous period, which reached US$5.35 billion.

2. Animal, vegetable or microbial fats and oils and their cleavage products

In second place, Indonesia's largest export was animal, vegetable or microbial fats and oils and their cleavage products. The export value to Malaysia in 2023 was recorded at US$1.22 billion. This figure is lower than the previous period, which reached US$2.3 billion.

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

Next is Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof, with HS code 87. Indonesia exported US$692.68 million, up from US$630.85 million in the previous period. Trademap data shows that Indonesia's trade activity exporting Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof, is to 4 countries. Exports of Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof to this country are the largest. The other five countries that are sources of exports of Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof are the United States, Germany, Canada, the United Kingdom, and France.

4. Iron and steel

For this product, Indonesia exported a large amount of iron and steel to Malaysia. The export value of this product was recorded at US$563.26 million. This amount is lower than the previous period, which reached US$607.63 million. Trademap data shows that Indonesia's trade activity exporting iron and steel is to 4 countries. Exports of iron and steel to this country are the largest. The other five countries that are sources of iron and steel exports are China, the United States, Germany, Afghanistan, and Africa not specified elsewhere.

5. Copper

Next, Indonesia also recorded significant exports of copper to Malaysia. The export value of this product in 2023 was US$539.71 million. This amount is lower than the previous period, which reached US$840.27 million. Trademap data shows that Indonesia's trade activity exporting copper is to 4 countries. Exports of copper to this country are the largest. Other countries in the top five export destinations are China, the United States, Germany, Italy, and India.