Indonesia was India's largest exporter of mineral fuels in 2023.
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Indonesia recorded US$20.29 billion in exports to India as of December 2023. This figure represents a 13.21% decrease compared to the previous year's exports, which totaled US$23.38 billion.
Over the past 10 years, Indonesia's trade record with India shows an upward trend in exports. The lowest export value was US$10.09 billion, while the highest reached US$23.38 billion.
Of the 97 products (two-digit HS codes) exported to India, 55 products were worth more than one billion dollars. Furthermore, according to Trademap data, 89 major Indonesian products are exported to India annually. In other words, these products are the mainstay of Indonesian exports to India. The remaining products are largely also exported to other countries.
The following is a list of the top five products exported from Indonesia to India, 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 India rank first, totaling US$7.54 billion. This is lower than the previous period's US$10.76 billion.
2. Animal or vegetable fats and oils and their cleavage products
Falling under HS code 15, animal or vegetable fats and oils and their cleavage products are a group of export goods categorized together with edible processed fats and oils. Indonesia exported US$4.54 billion worth of these products.
3. Iron and steel
Exports of iron and steel to India are currently the largest. Indonesia exported US$1.67 billion to India. Other major export destinations for iron and steel include China, the United States, Germany, Afghanistan, and other unspecified African countries.
4. Ores, slag and ash
Exports of ores, slag, and ash to India are currently the largest. Indonesia exported US$989.67 million to India. Other major export destinations for ores, slag, and ash include China, Japan, Korea, Republic (unspecified), Germany, and Afghanistan.
5. 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, of rare-earth metals, etc. Indonesia exported US$520.45 million worth of these products to India. India is the largest importer of these Indonesian products. Other major export destinations for inorganic chemicals include China, Korea, Republic (unspecified), the United States, and Japan.
"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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