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Indonesia recorded US$13.68 million in exports to Iceland in December 2023. This figure represents a 36.11% decrease compared to the previous year's exports of US$21.41 million.
Indonesia's trade record with Iceland shows an upward trend in exports over the past 10 years. The lowest export value was US$81,000, while the highest reached US$21.41 million.
Of the 97 products (two-digit HS codes) exported to Iceland, 35 products were worth more than one billion dollars. Furthermore, according to Trademap data, there are 18 main Indonesian products exported to Iceland annually. In other words, these products are the mainstay of Indonesian exports to Iceland. The majority of other products are also exported to many other countries.
The following is a list of the top five Indonesian products exported to Iceland, ordered from highest to lowest transaction value:
1. Inorganic chemicals
Falling under HS code 28, inorganic chemicals are a group of export goods categorized together with organic or inorganic compounds of precious metals, rare-earth metals, etc. Exports of this product to Iceland ranked first, with Indonesia exporting US$11.09 million. The value of exports of Inorganic chemicals; organic or inorganic compounds of precious metals, rare-earth metals was lower than the previous period, which reached US$18,015,000.
2. Machinery, electrical equipment and parts
Falling under HS code 85, machinery, electrical equipment and parts are a group of export goods categorized together with sound recorders and reproducers, television. Indonesia exported US$0.92 million.
3. Animal, vegetable or microbial fats and oils and their cleavage products
Indonesia's export destination for this product is limited to one country. Exports of animal, vegetable or microbial fats and oils and their cleavage products to this country are the largest. In 2023, Indonesia recorded exports of US$0.88 million. Five other countries that are sources of exports of animal, vegetable or microbial fats and oils and their cleavage products are Ship chandlers and bunkers, Sierra Leone, Singapore, Sint Maarten (Netherlands Antilles) and Slovakia.
4. Rubber
Rubber exports to Iceland are currently the largest. Indonesia exported US$0.3 million to this country. Other countries with the largest rubber export values are the United States, Germany, China, Mexico, and France.
5. Paper and Paperboard
Indonesia also exports a significant amount of paper and paperboard to Iceland. The value of these exports was recorded at US$0.3 million. In the previous year, Indonesia did not record any exports to this country. Trademap data shows Indonesia's trading activity exporting paper and paperboard to 4 countries. Exports of paper and paperboard to this country are the largest. Other countries in the top five export destinations are the United States, Germany, France, the United Kingdom, and Italy.
"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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