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Indonesia recorded exports to Norway totaling US$484.41 million as of December 2023. This figure represents a 234.85% increase compared to the previous year's exports of US$144.67 million.
Indonesia's trade record with Norway shows an upward trend in exports over the past 10 years. 2023 marks a historic high with the highest export value ever recorded.
Of the 97 products (two-digit HS codes) exported to Norway, 41 products were worth more than one billion dollars. Furthermore, according to Trademap data, there are 50 main Indonesian products exported to Norway annually. In other words, these products are the mainstay of Indonesian exports to Norway. The majority of other products are also exported to many other countries.
The following is a list of the top five Indonesian products exported to Norway, ordered from highest to lowest transaction value:
1. Nickel
Indonesia is a major exporter of Nickel. In the Trademap classification, Nickel falls under HS code 75. In 2023, Indonesia exported US$397.62 million worth of nickel. This represents an increase compared to the previous period's recorded US$61,871 thousand.
2. Ships, boats, and floating structures
In the Trademap classification, ships, boats, and floating structures fall under HS code 89. Indonesia exported US$27.54 million worth of these products.
3. Iron or steel
Exports of iron or steel to Norway were the highest. In 2023, Indonesia recorded exports of US$26.48 million. Other top five export destinations include the United States, Germany, France, Mexico, and Canada.
4. Wood and wood products
Indonesia also exports significant quantities of wood and wood products to Norway. Exports of this product totaled US$9.47 million. This is an increase compared to the previous period's recorded US$3,559 thousand. Besides Norway, Indonesia also relies on exports of wood and wood products to the United States, China, Japan, Germany, and the United Kingdom. In addition to these main countries, Indonesia also exported this product to four other countries.
5. Machinery, equipment, and electrical parts
Exports of machinery, equipment, and electrical parts to Norway are currently the highest. Indonesia exported US$3.62 million worth of these products to Norway. Other major export destinations for machinery, equipment, and electrical parts 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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