Top Indonesia Exports 2024 Q2: Commodity Dominance

Indonesia Export Portfolio Overview in 2024 Q2

• Dominated by mineral fuels (HS 27, 22.2%) and iron/steel (HS 72, 10.4%), reflecting a resource-heavy export base.
• High concentration risk: top 3 sectors account for over 40% of total export value, creating vulnerability to commodity price swings.
• Reinforces Indonesia's role as a global supplier of raw and intermediate industrial inputs, not finished consumer goods.

Table: Indonesia Top Export Product in 2024 Q2 (Source: yTrade)

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Key Driver: Mineral Fuels, Oils & Distillation Products

• Driven overwhelmingly by coal (HS 2701, $5.11B), comprising 55% of the sector.
• Almost entirely raw or minimally processed material, not refined downstream products.
• Reflects Indonesia's structural advantage as a low-cost, high-volume producer of thermal coal for Asian power generation and industry.

Table: HS Code 27 Detailed Breakdown

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Key Driver: Iron and Steel

• Led by ferroalloys (HS 7202, $2.36B), making up 54% of the sector’s exports.
• Acts as a complement to mineral fuels: both feed heavy industry and infrastructure development regionally.
• Strategically important as it represents a move beyond pure extraction into basic metallurgical processing, though still intermediate goods.

Table: HS Code 72 Detailed Breakdown

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Key Driver: Animal or Vegetable Fats and Oils

• Palm oil (HS 1511, $2.48B) is the clear anchor, representing 71% of the sector.
• A stable legacy sector where Indonesia holds dominant global market share due to agro-climatic advantages and established plantation scale.
• Unlike minerals, this is a renewable resource, but still exposed to environmental regulations and volatile demand cycles.

Table: HS Code 15 Detailed Breakdown

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Frequently Asked Questions

What is Indonesia's largest export commodity in 2024 Q2?

The largest export category is Mineral fuels, mineral oils and products of their distillation (HS 27), valued at $9.29B. This sector is primarily driven by exports of Coal; briquettes, ovoids, and similar solid fuels made from coal (HS 2701), which alone accounts for $5.11B (54.97%) of the total.

Which specific Mineral fuels products does Indonesia export most in 2024 Q2?

Within the Mineral fuels sector, the top exports are:

1. Coal; briquettes, ovoids, and similar solid fuels made from coal (HS 2701) at $5.11B (54.97%).
2. Petroleum gases and other gaseous hydrocarbons (HS 2711) at $1.60B (17.17%).
   These two products dominate 72.14% of the sector’s total exports.

Does Indonesia export Iron and steel in 2024 Q2?

Yes, Iron and steel (HS 72) is Indonesia’s second-largest export sector, valued at $4.37B. The primary driver is Ferro-alloys (HS 7202), contributing $2.36B (54.17%) of the total value.

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) – $9.29B (22.16%).
2. Iron and steel (HS 72) – $4.37B (10.41%).
3. Animal/vegetable fats and oils (HS 15) – $3.48B (8.29%).
   Together, these industries account for 40.86% 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 for coal, petroleum, and other fuel exporters.