Indonesia was the largest exporter of iron to Portugal in 2023.

Indonesia recorded exports to Portugal totaling US$140.91 million as of December 2023. This figure represents an 8.33% increase compared to the previous year's exports, which were recorded at US$130.07 million.

Indonesia's trade record with Portugal shows a significant decrease in exports over the past 10 years. The lowest export value recorded was US$105.8 million, while the highest reached US$163.39 million.

Of the 97 products (two-digit HS codes) exported to Portugal, 42 products were worth more than one billion dollars. Furthermore, according to Trademap data, 61 main Indonesian products are exported to Portugal annually. In other words, these products are the mainstay of Indonesian exports to Portugal. The remaining products are largely exported to other countries as well.

The following is a list of the top five Indonesian products exported to Portugal, ordered from highest to lowest transaction value:

1. Iron and Steel

Indonesia exports a significant amount of iron and steel. In the Trademap classification, iron and steel fall under HS code 72. In 2023, Indonesia exported US$28.66 million worth of iron and steel. This represents an increase compared to the previous period, which recorded US$4,751,000.

2. Footwear, headgear and the like

This product group, under HS code 64, includes footwear, headgear, and parts thereof. Indonesia exported US$24.8 million worth of these products to Portugal.

3. Rubber

Rubber exports to Portugal were substantial. In 2023, Indonesia recorded exports of US$11.4 million. Other top five export destinations for Indonesian rubber include the United States, Germany, China, Mexico, and France.

4. Fish and crustaceans, molluscs and other aquatic invertebrates

Indonesia exported a significant amount of fish and crustaceans, molluscs, and other aquatic invertebrates to Portugal. Exports totaled US$10.91 million, an increase compared to the previous period's US$6,485,000. Portugal remains the largest export destination for this product category. Other top five export destinations include the United States, China, Japan, Spain, and Italy.

5. Man-made staple fibers

Indonesia also exported a significant amount of man-made staple fibers to Portugal. In 2023, exports totaled US$9.88 million, a decrease compared to the previous period's US$10,658,000. Besides Portugal, Indonesia also relies on exports of man-made staple fibers to Vietnam, Afghanistan, unspecified Africa, Albania, and Algeria. In addition to these main countries, Indonesia exported this product to four other countries.