These are Indonesia's Top Export Products to Vietnam

Indonesia recorded exports to Vietnam totaling US$4.94 billion as of December 2020. This figure represents a significant 4.12% decrease compared to the previous year's exports, which reached US$5.15 billion.

Indonesia's trade record with Vietnam shows an upward trend in exports over the past 10 years. The lowest export value was US$2.27 billion, while the highest reached US$5.15 billion.

Of the 97 products (two-digit HS codes) exported to Vietnam, 50 products were worth more than one billion dollars. Furthermore, according to Trademap data, two main Indonesian products are exported to Vietnam annually. This indicates a considerable dependence on these export products. The majority of other exported products (90 products) are also exported to numerous other countries.

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

1. Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof

Indonesia's top export to Vietnam is Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof. In the Trademap classification, this falls under HS code 87. In 2020, Indonesia exported US$791.12 million worth of these products. This is lower than the previous period's US$1.03 billion.

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

The second largest export is Mineral fuels, mineral oils and products of their distillation. The export value to Vietnam in 2020 was US$626.2 million, lower than the previous year's US$656.27 million.

3. Vegetable oils and fats and their cleavage products

Indonesia exports this product to 160 countries. Exports of Vegetable oils and fats and their cleavage products to Vietnam ranked 13th. In 2020, Indonesia exported US$437.02 million worth of these products. Other major export destinations for this product include China, India, Pakistan, Malaysia, and the United States.

4. Electrical machinery and equipment and parts thereof

Another significant export is Electrical machinery and equipment and parts thereof, totaling US$351.26 million. This is lower than the previous period's US$413.97 million. Besides Vietnam, Indonesia also exports Electrical machinery and equipment and parts thereof to the United States, Singapore, Japan, Hong Kong, China, and Thailand. In addition to these major markets, Indonesia exports this product to 158 other countries.

5. Iron and steel

Finally, exports of Iron and steel reached US$304.48 million, lower than the previous year's US$383.04 million. Exports of Iron and steel to Vietnam ranked sixth. Other major export destinations include China, Taiwan, South Korea, Malaysia, and India.