Top 10 Export Commodities in Indonesia

Indonesia export commodities are a precious and indispensable asset to its economy. The commodities account for approximately 60 percent of all Indonesia’s exports. In continuation with the healthy growth shown by exports over the years in Indonesia, the exports in Indonesia are valued at USD 24.12 billion, as stated by BPS on November 2022.

Exports have contributed positively to Indonesia’s gross economic output and made Indonesia the 24th world’s largest export economy.

In this article, we will show you the top export commodities in Indonesia and how you can seize the opportunities to start your export business in this ever-evolving country.

Top 10 Indonesia Export Commodities

Here are the top 10 commodities most exported from Indonesia, which have fetched foreign currency for Indonesia. The type of commodities and their dollar values are shown in the table below:

Interestingly, Indonesia is ranked the 2nd largest fake hair exporter globally, just falling behind the 1st largest exporter in China.

Every year, Indonesia exports approximately US$382 million in raw materials for the wig to countries worldwide. That amount accounts for 11% market share globally.

Palm Oil

With a 54% market share and US$26.4 billion in annual export, Indonesia is the world’s largest producer and exporter of palm oil. With a 34 percent share, Malaysia follows Indonesia for palm oil export.

Coal Briquettes

Indonesia is the 2nd largest exporter of coal briquettes globally, with an annual output of US$11.9 billion and a market share of 18 percent, accounting for the country’s 8.5% total exports.

READ MORE:

• Top Import & Export Business Ideas for 2024
• Export-Import Indonesia: A Guide to Becoming A Reputable Exporter and Importer

Petroleum Gas

Globally, Indonesia is ranked the 7th largest exporter of petroleum, with a 4.9% market share with an annual report of US$127 billion. Even though the oil and gas sector has shown a slight decline recently, the export of petroleum gas has supported Indonesia’s economy to a large extent.

Copper Ore

Being the 3rd largest export of this commodity, the export of copper ore in Indonesia is worth US$ 44.2 billion with a market share of 7.9%. Thanks to the Grasberg Mine, located in Papua, Indonesia, has the 2nd largest copper mine and the largest gold mine.

Gold

Indonesia accounts for 4% of gold production globally. It is Ranked the 9th largest gold producer globally. Even with the largest gold mine, this commodity export is dominated by Switzerland, with 28% of gold exported globally.

READ MORE:

• Export Import License that Your Company Should Have
• Licensing Procedures for Imports and Exports of Oil, Gas and Other Fuels in Indonesia

Major Export for Overseas Destinations

Indonesia has several major export destinations, with China, the United States, Japan, Singapore, and India being the most prominent ones.

As mentioned, each country’s export value is US$16.8 billion, US$16.2 billion, US$ 16.1 billion, US$ 11.2 billion, and $10.1 billion, respectively.

The Price Factor in Indonesia Export Commodities

It is vital for foreigners who wish to start an export business to know that Indonesia is a significant commodity-producing and exporting country globally. Thus, export businesses are also more responsive to price volatility on a global scale.

However, with the best strategies, you will enjoy handsome profits during price upswings but maintain unharmed during price downswings.

How Can InCorp Indonesia Help You

Are you interested in export opportunities in Indonesia? InCorp Indonesia (an Ascentium Company) offers market-entry strategies with buying agents, company, and product registrations.

Contact us today and get to know more about export commodities in Indonesia.