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Indonesia recorded US$20.29 billion in exports to India as of December 2023. This figure represents a significant 13.21% decrease compared to the previous year's exports, which totaled US$23.38 billion.
Over the past 10 years, Indonesia's trade record with India shows an upward trend in exports. The lowest export value was US$10.09 billion, while the highest reached US$23.38 billion.
Of the 97 products (two-digit HS codes) exported to India, 55 were worth more than one billion dollars. Furthermore, according to Trademap data, 89 main Indonesian products are exported to India annually. In other words, these products are the mainstay of Indonesian exports to India. Many of these products are also exported to other countries.
The following is a list of the top five products exported by Indonesia to India, ordered by value from highest to lowest.
- Mineral fuels, mineral oils and products of their distillation
- Animal, vegetable or microbial fats and oils and their fractions
- Iron and steel
- Ores, slag and ash
- Inorganic chemicals
Indonesia's largest export to India is mineral fuels, mineral oils and products of their distillation. In the Trademap classification, these fall under HS code 27. This category includes bituminous substances and mineral waxes.
In 2023, Indonesia exported US$7.54 billion worth of these products. This is lower than the previous period's US$10.76 billion.
The second largest export to India was animal, vegetable or microbial fats and oils and their fractions, totaling US$4.54 billion in 2023. This is lower than the previous period's US$5.36 billion.
Indonesia's exports of iron and steel are primarily destined for India. In 2023, exports totaled US$1.67 billion. The other five largest export destinations for Indonesian iron and steel are China, the United States, Germany, Afghanistan, and unspecified locations in Africa.
Indonesia's exports of ores, slag and ash are primarily destined for India. In 2023, exports totaled US$989.67 million. The other top five export destinations are China, Japan, Korea, Germany, and Afghanistan.
Exports of inorganic chemicals amounted to US$520.45 million. This is lower than the previous period's US$658.38 million. Besides India, Indonesia also exports inorganic chemicals to China, Korea, the United States, and Japan. In addition to these major countries, Indonesia exported these products to four other countries.
"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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