Indonesia was Japan's largest exporter of mineral fuels in 2023.
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Indonesia recorded exports to Japan totaling US$20.79 billion as of December 2023. This represents a significant 16.32% decrease compared to the previous year's exports of US$24.85 billion.
Over the past 10 years, Indonesia's trade record with Japan shows an upward trend in exports. The lowest export value was US$13.66 billion, while the highest reached US$24.85 billion.
Of the 97 products (two-digit HS codes) exported to Japan, 64 were valued at over one billion dollars. Furthermore, according to Trademap data, 94 major Indonesian products are exported to Japan annually. In other words, these products are Indonesia's main exports to Japan. Many of the other products are also exported to other countries.
The following is a list of the top five products exported from Indonesia to Japan, ordered from highest to lowest transaction value.
- Mineral fuels, mineral oils and products of their distillation
- Ores, slag and ash
- Machinery, mechanical appliances and electrical parts
- Nickel
- Natural or cultured pearls, precious or semi-precious stones, precious metals, clad metals
Indonesia's largest export to Japan is mineral fuels, mineral oils and products of their distillation. In the Trademap classification, these fall under HS code 27. This category includes bituminous substances and mineral waxes.
In 2023, Indonesia exported US$6.67 billion worth of these products. This is lower than the previous period's US$8.82 billion.
Indonesia's second-largest export to Japan was ores, slag, and ash, totaling US$1.9 billion in 2023. This is lower than the previous year's US$2.29 billion.
Indonesia exported this product to Japan, representing its largest export in this category to a single country. In 2023, exports totaled US$1.66 billion. Other top five export destinations for this product include China, the United States, Hong Kong, Germany, and Singapore.
Japan is currently the largest importer of Indonesian nickel. Exports to Japan totaled US$1.28 billion. Other major export destinations for nickel include China, Afghanistan, unspecified African countries, Albania, and Algeria.
Indonesia also exported a significant amount of natural or cultured pearls, precious or semi-precious stones, precious metals, and clad metals to Japan. In 2023, exports reached US$802.07 million, down from US$1.24 billion in the previous period. Japan was the largest importer of this product category. Other top five export destinations include Switzerland, the United Arab Emirates, China, Hong Kong, and the United States.
"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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