Indonesia Is Japan's Largest Mineral Fuel Exporter

Indonesia recorded exports to Japan totaling US$24.85 billion as of December 2022. This figure represents a 39.05% increase compared to the previous year's exports, which were recorded at US$17.87 billion.

Indonesia's trade record with Japan shows a significant decline in exports over the past 10 years. The lowest export value was US$13.66 billion, while the highest reached US$27.09 billion.

Of the 97 products (two-digit HS codes) exported to Japan, 66 products were worth more than one billion dollars. Furthermore, according to Trademap data, 12 main Indonesian products are exported to Japan annually. This indicates a significant dependence on these export products. The remaining products, totaling 82, are also exported to other countries.

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

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

Falling under HS code 27, mineral fuels, mineral oils and products of their distillation are a group of export goods categorized together with bituminous substances and mineral waxes. Exports of this product to Japan ranked first, with Indonesia exporting US$8.82 billion. This represents an increase compared to the previous period, which recorded US$3.53 billion.

2. Ores, slag and ash

Ores, slag and ash fall under product category HS code 26. Indonesia exported US$2.29 billion.

3. Electrical machinery and equipment and parts thereof

Indonesia exported this product to 164 countries. Exports of electrical machinery and equipment and parts thereof to Japan ranked third, with Indonesia recording exports of US$1.55 billion in 2022. Besides Japan, the largest exports of electrical machinery and equipment and parts thereof were to Singapore, the United States, the Republic of Korea, and Hong Kong, China.

4. Natural or cultured pearls, precious or semi-precious stones, precious metals, clad metals…

Indonesia exported this product to 84 countries. Exports of natural or cultured pearls, precious or semi-precious stones, precious metals, clad metals… to Japan ranked third, with Indonesia recording exports of US$1.24 billion in 2022. Other top five export destinations include Switzerland, Singapore, Hong Kong, China, and Jordan.

5. Nickel and articles thereof

Nickel and articles thereof, with HS code 75, were exported by Indonesia to the value of US$1.24 billion. Trademap data shows that Indonesia exported nickel and articles thereof to 19 countries. Exports of nickel and articles thereof to Japan ranked second. Other top five export destinations include China, the Republic of Korea, Malaysia, and Norway.