Indonesia's Nickel Exports to Norway Increase to US$397.62 Million
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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, which were recorded at 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 annually to Norway. In other words, these products are the mainstay of Indonesian exports to Norway. The remaining products are largely also exported to other countries.
The following is a list of the top five products exported by Indonesia to Norway, ordered from highest to lowest transaction value:
1. Nickel
Indonesia exported a significant amount 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, which recorded US$61,871 thousand.
2. Ships, boats, and floating structures
Indonesia's second-largest export to Norway was Ships, boats, and floating structures. The export value in 2023 was US$27.54 million, an increase compared to the previous period's US$1,629 thousand.
3. Iron or steel
Third on the list is iron or steel (HS code 73). Indonesia exported US$26.48 million worth of iron or steel, lower than the previous period's US$28,390 thousand. Trademap data shows that Indonesia is among the top 4 exporters of iron or steel to this country, with Norway being the largest recipient of Indonesian iron or steel exports. The other five countries that are major sources of iron or steel exports are the United States, Germany, France, Mexico, and Canada.
4. Wood and wood products
Indonesia exports these products to a single country, with Norway being the largest recipient. In 2023, Indonesia exported US$9.47 million worth of wood and wood products. The other five countries that are major sources of wood and wood products exports are the United States, China, Japan, Germany, and the United Kingdom.
5. Machinery, electrical equipment and parts
Indonesia also exported a significant amount of machinery, electrical equipment and parts to Norway. The export value in 2023 was US$3.62 million, lower than the previous period's US$21,000 thousand. Trademap data shows that Indonesia is among the top 4 exporters of machinery, electrical equipment and parts to this country, with Norway being the largest recipient. Other countries in the top five export destinations are 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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