Top Indonesia Exports 2023 Q1): Commodity Dominance

Indonesia Export Portfolio Overview in 2023 Q1

• Dominated by mineral fuels (HS 27, 25.1% share) and vegetable oils (HS 15, 10.5% share), reflecting heavy reliance on commodity exports.
• High concentration risk: Top 3 sectors (fuels, oils, iron/steel) represent 45.3% of total exports, creating vulnerability to global price swings.
• This structure confirms Indonesia's role as a global supplier of raw materials and intermediate goods, not finished products.

Table: Indonesia Top Export Product in 2023 Q1 (Source: yTrade)

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Key Driver: Mineral Fuels, Oils and Distillation Products

• Driven overwhelmingly by coal (HS 2701, 60.7% of sector value), a raw material with minimal processing.
• This dominance stems from Indonesia's extensive coal reserves and strategic position as Asia's largest thermal coal exporter.
• Prices and volumes are exposed to regional energy demand, particularly from 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, 79.6% of sector value) is the clear driver, primarily exported as crude or refined bulk oil.
• Acts as a complement to energy exports, reinforcing the commodity-dependent export profile.
• Strategic as Indonesia is the world's largest palm oil producer, though exposed to environmental regulations and price volatility.

Table: HS Code 15 Detailed Breakdown

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Key Driver: Iron and Steel

• Primarily driven by ferro-alloys (HS 7202, 57.3% of sector value), an intermediate good used in steelmaking.
• Represents a stable legacy sector, supporting domestic industrial activity but still tied to global construction and manufacturing cycles.
• Less volatile than top sectors but still reflects export of intermediate materials rather than complex finished goods.

Table: HS Code 72 Detailed Breakdown

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Frequently Asked Questions

What is Indonesia's largest export commodity in 2023 Q1?

The largest export category is Mineral fuels, mineral oils, and products of their distillation (HS 27), valued at $16.80B. This sector is primarily driven by exports of Coal (HS 2701), which alone accounted for $10.20B (60.71%) of the total.

Which specific Mineral fuels products does Indonesia export most in 2023 Q1?

Within the Mineral fuels sector, the top exports are:

1. Coal (HS 2701): $10.20B (60.71%)
2. Petroleum oils (HS 2702): $2.49B (14.81%)
3. Liquefied petroleum gases (HS 2711): $2.33B (13.85%)

Does Indonesia export Animal or vegetable fats and oils in 2023 Q1?

Yes, Animal or vegetable fats and oils (HS 15) is Indonesia’s second-largest export sector, valued at $7.04B. The primary driver is Palm oil (HS 1511), contributing $5.60B (79.60%) of the total.

What are the main industries driving Indonesia's economy?

Indonesia’s export economy is heavily reliant on three key sectors:

1. Mineral fuels (HS 27): $16.80B (25.06%)
2. Animal/vegetable fats (HS 15): $7.04B (10.49%)
3. Iron and steel (HS 72): $6.56B (9.78%)
   Together, these account for 45.33% of total exports.

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.