Indonesia Exported US$18.34 Billion Worth of Iron to China in 2023
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Indonesia recorded US$64.94 billion in exports to China as of December 2023. This represents a significant 1.49% decrease compared to the previous year's exports, which totaled US$65.92 billion.
Over the past 10 years, Indonesia's trade record with China shows an upward trend in exports. The lowest export value was US$15.05 billion, while the highest reached US$65.92 billion.
Of the 97 products (two-digit HS codes) exported to China, 77 were valued at over one billion dollars. Furthermore, according to Trademap data, 93 main Indonesian products are exported to China annually. In other words, these products are the mainstay of Indonesian exports to China. Many of these products are also exported to other countries.
The following is a list of the top five products exported by Indonesia to China, ordered by value from highest to lowest.
1. Iron and Steel
Iron and steel (HS code 72) topped the list of exports to China, reaching US$18.34 billion. This is lower than the previous period's US$18.97 billion.
2. Mineral fuels, mineral oils and products of their distillation
Second on the list is mineral fuels, mineral oils and products of their distillation, with exports to China totaling US$17.58 billion in 2023. This is lower than the previous period's US$17.87 billion.
3. Animal or vegetable fats and oils and their cleavage products
China is the largest export destination for animal or vegetable fats and oils and their cleavage products. In 2023, Indonesia exported US$6.08 billion worth of these products to China. The other five largest export destinations for these products are Ship chandlers and bunkers, Sierra Leone, Singapore, Sint Maarten (Netherlands Antilles), and Slovakia.
4. Nickel
Indonesia exported US$4.95 billion worth of nickel to China, an increase from the previous period's US$4.49 billion. China remains the largest export destination for Indonesian nickel. The other five largest export destinations are Afghanistan, Africa n.e.c., Albania, and Algeria.
5. Pulp of wood or of other fibrous cellulosic material
Under HS code 47, pulp of wood or of other fibrous cellulosic material (categorized together with waste and scrap of paper or paperboard) accounted for US$2.7 billion in exports to China, the largest export destination for this product. The other top five export destinations are the United States, Germany, Afghanistan, and Africa n.e.c.
"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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