Indonesia’s exports to China accounted for $64.93 billion in 2023. Indonesia exports the most Iron and steel to China worth $18.33 billion in 2023. Indonesia and China share a strong trade relationship, with Indonesia exporting a variety of goods to China. Among the numerous products exported, certain items stand out as the most popular exports from Indonesia to China. Let’s take a closer look at what Indonesia exports to China the most.
Indonesia-China Trade: Overview of Trade Volume and Growth
In recent years, the trade relationship between Indonesia and China has experienced remarkable expansion. In 2023, Indonesia’s export trade with China reached $64.93 billion, representing a significant portion of Indonesia’s total export volume, which is approximately 25.1%. This robust trade volume underscores China’s position as Indonesia’s largest trading partner for over a decade, and highlights the deepening economic ties between the two nations.
The growth trajectory has been impressive, with trade exceeding $100 billion annually. This growth is driven by Indonesia’s strategic location in Southeast Asia and its role as a key supplier of essential raw materials and products. The bilateral trade has been bolstered by initiatives such as China’s Belt and Road Initiative, which has improved connectivity and infrastructure, facilitating smoother trade flows.
The diversification of export products, including iron and steel, mineral fuels, and animal oils, has further strengthened the trade relationship. As Indonesia continues to leverage its resource base and enhance its production capabilities, the trade partnership with China is expected to expand, fostering greater economic integration and mutual benefits.
Indonesia’s top exports to China
In 2023, Indonesia’s export trade with China reached an impressive $64.93 billion, showcasing the strength of their economic partnership. The top exports from Indonesia to China include iron and steel, valued at $18.33 billion, which is crucial for China’s construction and manufacturing industries. Mineral fuels and mineral oils, worth $17.58 billion, are essential for meeting China’s substantial energy needs. Additionally, animal and vegetable oils, including palm oil, account for $6.07 billion of the exports, vital for various food and industrial applications. Nickel and articles thereof, totaling $4.94 billion, are significant for the production of stainless steel and other alloys. Pulp of wood, worth $2.69 billion, supports China’s paper and packaging sectors. These exports reflect Indonesia’s critical role in supplying key raw materials and products to fuel China’s economic growth and industrial expansion.
According to the latest export statistics for 2023, Indonesia’s biggest exports to China include:
1. Iron and Steel (HS Code 72): $18.33 Billion
Iron and steel products are at the top of the list of Indonesian exports to China. These products are essential raw materials used in various industries, including construction, manufacturing, and automotive. With a value of $18.33 billion, iron and steel hold a significant share of Indonesia’s export economy to China.
2. Mineral Fuels and Mineral Oils (HS Code 27): $17.58 Billion
Another major export commodity from Indonesia to China is mineral fuels and mineral oils. These products are crucial for energy production and are in high demand in China. With a value of $17.58 billion, mineral fuels and mineral oils play a significant role in Indonesia’s trade with China.
3. Animal and Vegetable Oils (HS Code 15): $6.07 Billion
Animal and vegetable oils are also among the top exports from Indonesia to China. These oils are used in cooking, cosmetics, and various other industries. With a value of $6.07 billion, Indonesia’s exports of animal and vegetable oils contribute substantially to the trade relationship with China.
4. Nickel and Articles Thereof (HS Code 75): $4.94 Billion
Nickel and its related articles are essential exports from Indonesia to China. Nickel is a versatile metal used in the production of stainless steel, batteries, and various other products. With a value of $4.94 billion, nickel exports play a vital role in Indonesia’s trade with China.
5. Pulp of Wood (HS Code 47): $2.69 Billion
Pulp wood is another significant export product from Indonesia to China. This commodity is used in the paper and packaging industry, among others. With a value of $2.69 billion, pulpwood exports contribute significantly to Indonesia’s trade with China.
6. Ores, Slag, and Ash (HS Code 26): $2.12 Billion
Ores, slag, and ash are essential raw materials exported from Indonesia to China. These materials are used in various industries, including mining and construction. With a value of $2.12 billion, Indonesia’s exports of ores, slag, and ash play a crucial role in the trade relationship with China.
7. Miscellaneous Chemical Products (HS Code 38): $2.12 Billion
Miscellaneous chemical products are also significant exports from Indonesia to China. These products find applications in various industries, including pharmaceuticals, agriculture, and manufacturing. With a value of $2.12 billion, miscellaneous chemical products contribute substantially to the trade between Indonesia and China.
8. Prepared Animal Fodder (HS Code 23): $1.10 Billion
Prepared animal fodder is an essential export commodity from Indonesia to China. This product is used in the livestock industry for feeding animals. With a value of $1.10 billion, prepared animal fodder exports are a vital part of Indonesia’s trade with China.
9. Fish and Seafood (HS Code 03): $804.81 Million
Fish and seafood products are popular exports from Indonesia to China. These products are in high demand in China due to their nutritional value and taste. With a value of $804.81 million, fish and seafood exports contribute significantly to the trade relationship between Indonesia and China.
10. Copper and Articles Thereof (HS Code 74): $757.08 Million
Copper and its related articles are essential exports from Indonesia to China. Copper is a versatile metal used in various industries, including electronics, construction, and automotive. With a value of $757.08 million, copper exports play a significant role in Indonesia’s trade with China.
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Conclusion
To conclude, Indonesia exports a wide variety of merchandise to China, with certain commodities emerging as the most famous exports. From iron and steel to mineral fuels and oils, these products shape the backbone of Indonesia’s trade relationship with China. As the trade between the two nations continues to grow, those export commodities are likely to play an increasing number of crucial positions in strengthening monetary ties between Indonesia and China.