Indonesia was the largest exporter of iron or steel to Lithuania in 2023.
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Indonesia recorded exports to Lithuania totaling US$38.51 million as of December 2023. This figure represents a 229.22% increase compared to the previous year's exports of US$11.7 million.
Indonesia's trade record with Lithuania shows a significant decrease in exports over the past 10 years. 2023 marks a historic high with the highest export value ever recorded.
Of the 97 products (two-digit HS codes) exported to Lithuania, 37 products were worth more than one billion dollars. Furthermore, according to Trademap data, 45 main Indonesian products are exported to Lithuania annually. In other words, these products are the mainstay of Indonesian exports to Lithuania. The remaining products are largely exported to other countries as well.
Below is a list of the top five products exported by Indonesia to Lithuania, ordered from highest to lowest transaction value:
1. Iron or steel
Indonesia exported a significant amount of iron or steel, categorized under HS code 73 in the Trademap classification. In 2023, Indonesia exported US$14.68 million worth of iron or steel, a significant increase compared to the previous period's US$6,000.
2. Animal, vegetable or microbial fats and oils and their fractions
Falling under HS code 15, animal, vegetable or microbial fats and oils and their fractions are categorized together with prepared edible fats. Indonesia exported US$5.18 million worth of these products to Lithuania.
3. Paper and paperboard
Indonesia also exported a significant amount of paper and paperboard to Lithuania. The value of these exports in 2023 was US$3.56 million, an increase compared to the previous period's US$867,000. Trademap data shows that Indonesia's paper and paperboard exports are ranked 4th among exporting countries. Exports to Lithuania are the largest. The other five major export destinations for Indonesian paper and paperboard are the United States, Germany, France, the United Kingdom, and Italy.
4. Organic chemicals
Exports of organic chemicals to Lithuania are currently the largest. Indonesia exported US$2.6 million worth of these products to Lithuania. Other major export destinations for Indonesian organic chemicals include the United States, China, Germany, Belgium, and India.
5. Machinery and electrical equipment and parts
Falling under HS code 85, machinery and electrical equipment and parts are categorized together with sound recorders and reproducers, television. Indonesia exported US$2.21 million worth of these products to Lithuania. Exports of machinery and electrical equipment and parts are currently largest to Lithuania. Besides Lithuania, the five largest export destinations for Indonesian machinery and electrical equipment and parts are China, the United States, Hong Kong, China, Germany, and Singapore.
"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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