Indonesia's Mineral Fuel Exports to Serbia Increase to US$14,047,000

Indonesia recorded exports to Serbia of US$22,812,000 as of December 2022. This figure represents a 105.22% increase compared to the previous year's exports, which were recorded at US$11,116,000.

Indonesia's trade record with Serbia 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 Serbia, 39 products were worth more than one billion dollars. Most of the export products to Serbia (30 products) are also exported to many other countries.

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

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

Indonesia exported a significant amount of mineral fuels, mineral oils and products of their distillation. In the Trademap classification, these fall under HS code 27. This product category is grouped together with bituminous substances and mineral waxes. In 2022, Indonesia exported US$14,047,000 worth of these products to Serbia. No exports were recorded to Serbia in the previous year.

2. Preparations of meat, of fish, of crustaceans, of molluscs or of other aquatic invertebrates;

Preparations of meat, of fish, of crustaceans, of molluscs or of other aquatic invertebrates fall under HS code 16. Indonesia exported US$2,238,000 worth of these products to Serbia.

3. Articles of apparel and clothing accessories, knitted or crocheted

Indonesia exports this product to 149 countries. Exports of knitted or crocheted apparel and clothing accessories to Serbia ranked 50th. In 2022, Indonesia recorded exports of US$1,520,000. Other major export destinations for this product include the United States, Japan, Germany, Canada, and the Republic of Korea.

4. Electrical machinery and equipment and parts thereof

Indonesia exports a significant amount of electrical machinery and equipment and parts thereof to Serbia. The value of these exports was recorded at US$1,332,000, lower than the previous period's US$3,728,000. Trademap data shows that Indonesia exports electrical machinery and equipment and parts thereof to 159 countries. Exports to Serbia ranked 89th. Other top five export destinations include Singapore, the United States, Japan, the Republic of Korea, and Hong Kong, China.

5. Footwear, gaiters and the like

This product, under HS code 64, is categorized together with parts of such articles. Indonesia exported US$1,227,000, an increase compared to the previous period's US$678,000. Trademap data shows that Indonesia exports footwear, gaiters and the like to 116 countries. Exports to Serbia ranked 51st. The other top five export destinations are the United States, Belgium, China, Germany, and Japan.