Indonesia Imported the Most Mineral Fuel from Nigeria in 2023
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Indonesia recorded US$3.94 billion in imports from Nigeria as of December 2023. This figure represents a significant 8.8% decrease compared to the previous year's imports of US$4.32 billion.
Indonesia's trade record with Nigeria shows a surge in imports over the past 10 years. The lowest import value was US$830.73 million, while the highest reached US$4.32 billion.
Of the 97 products (two-digit HS codes) imported from Nigeria, 39 were valued at over one billion dollars. Furthermore, according to Trademap data, Indonesia imports 26 main products from Nigeria annually. This indicates a considerable dependence on these imported products. The remaining imports consist largely of products also imported from other countries.
The following is a list of the top five products Indonesia imported from Nigeria, ordered from highest to lowest transaction value.
- Mineral fuels, mineral oils and products of their distillation
- Cocoa and cocoa preparations
- Aluminum
- Ores, slag and ash
- Coffee, tea, maté and spices
Indonesia imported a significant amount of mineral fuels, mineral oils, and products of their distillation. In the Trademap classification, these fall under HS code 27. This category groups together bituminous substances and mineral products.
In 2023, Indonesia imported US$3.82 billion worth of these products. This is lower than the previous period's US$4.2 billion.
Second on the list is cocoa and cocoa preparations. Imports from Nigeria in 2023 totaled US$109.24 million, an increase compared to the previous year's US$105.81 million.
Indonesia imported US$8.93 million worth of aluminum (HS code 76), lower than the previous period's US$14,356,000. Nigeria remains the largest supplier of aluminum to Indonesia. Other major sources include China, Germany, the United States, Canada, and Italy.
In the Trademap classification, ores, slag, and ash fall under HS code 26. Indonesia imported US$0.76 million worth, down from US$1,173,000 in the previous period. Besides Nigeria, Indonesia also imports these products from Brazil, Chile, Peru, South Africa, and Canada, as well as four other countries.
Indonesia imported US$0.3 million worth of coffee, tea, maté, and spices from Nigeria, up from US$234,000 in the previous period. Nigeria is the largest supplier of these products to Indonesia. Other major sources include Brazil, Vietnam, India, Germany, and China.
"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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