Top Indonesia Exports 2023: Commodity Dominance

Indonesia Export Portfolio Overview in 2023 Whole Year

• Dominated by mineral fuels (HS 27, 23% share) and vegetable oils (HS 15, 11%), reflecting heavy reliance on extractive and agricultural commodities.
• High concentration risk: Top 3 sectors (fuels, oils, iron/steel) account for 44% of total exports, making the economy vulnerable to commodity price swings.
• This structure confirms Indonesia's role as a global supplier of raw materials and intermediate goods, not a finished product exporter.

Table: Indonesia Top Export Product in 2023 (Source: yTrade)

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Key Driver: Mineral Fuels, Mineral Oils and Products

• Driven overwhelmingly by coal (HS 2701), which comprises 58% of the sector's value.
• Product type is entirely raw material, exported for energy generation and industrial use elsewhere.
• Dominance stems from Indonesia's massive coal reserves and strategic location supplying key Asian energy markets like China and India.

Table: HS Code 27 Detailed Breakdown

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Key Driver: Animal or Vegetable Fats and Oils

• Palm oil (HS 1511) is the core product, representing 80% of this sector's exports.
• Acts as a complement to energy exports—both are resource-driven—but adds agricultural commodity exposure.
• Strategically critical; Indonesia is the world's top palm oil producer, though exposed to environmental regulations and demand shifts.

Table: HS Code 15 Detailed Breakdown

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Key Driver: Iron and Steel

• Primarily fueled by ferro-alloys (HS 7202), accounting for 57% of sector exports.
• Represents a stable legacy industry with growth potential, supplying raw steel inputs to regional manufacturing hubs.
• Less volatile than top sectors but still tied to global construction and industrial demand cycles.

Table: HS Code 72 Detailed Breakdown

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Frequently Asked Questions

What is Indonesia's largest export commodity in 2023 Whole Year?

The largest export category is Mineral fuels, mineral oils and products of their distillation (HS 27), valued at $59.49B. This sector is primarily driven by exports of Coal; briquettes, ovoids, and similar solid fuels (HS 2701), which accounted for 58.14% of the total value.

Which specific Mineral fuels products does Indonesia export most in 2023 Whole Year?

Within the Mineral fuels sector, the top exports are:

1. Coal; briquettes, ovoids, and similar solid fuels (HS 2701) - $34.59B
2. Petroleum gases and other gaseous hydrocarbons (HS 2711) - $8.78B
3. Lignite, whether or not agglomerated (HS 2702) - $8.26B
   Together, these three products make up 86.77% of Indonesia’s HS 27 exports.

Does Indonesia export Animal or vegetable fats and oils in 2023 Whole Year?

Yes, Animal or vegetable fats and oils (HS 15) is Indonesia’s second-largest export sector, valued at $28.45B. The primary driver is Palm oil and its fractions (HS 1511), which alone contributes 79.73% ($22.69B) of the total value.

What are the main industries driving Indonesia's economy?

Indonesia’s export economy is heavily reliant on its top three industries:

1. Mineral fuels (HS 27) - $59.49B (22.99%)
2. Animal or vegetable fats and oils (HS 15) - $28.45B (10.99%)
3. Iron and steel (HS 72) - $26.70B (10.32%)
   These three sectors account for 44.3% of total exports, indicating a concentrated economic structure.

How to find Indonesia Mineral fuels suppliers?

You can access a list of active suppliers and exporters for Mineral fuels (HS 27) using the yTrade database, which provides detailed shipment records and company contacts for Indonesian exporters in this sector.

Detailed Quarterly Report

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