That dollar amount results from a 62.1% advance since 5 years earlier in 2020 when Indonesian exports totaled $163.3 billion.
From 2023 to 2024, the overall value of Indonesian exports grew 2.3% compared to $258.8 billion.
The top 5 countries buying exported products from Indonesia are mainland China, United States of America, Japan, India and Singapore. Combined, that quintet of leading international customers paid for over half (53.7%) of revenues that Indonesia collected for its goods exported in 2024.
Applying a continental lens, almost three-quarters (73.9%) of Indonesia’s exports by value was delivered to fellow Asian countries while 11.4% was sold to importers in North America. Indonesia shipped another 8.4% worth of products to buyers in Europe.
Smaller percentages went to customers in Africa (2.4%), Oceania (2.3%) led by Australia, and Latin America (1.6%) excluding Mexico but including the Caribbean.
Indonesia’s Top Trading Partners
Below is a list showcasing 25 of Indonesia’s top trading partners, countries that imported the most Indonesian shipments by dollar value during 2024. Also shown is each import country’s percentage of total Indonesian exports.
- mainland China: US$62.4 billion (23.6% of total Indonesian exports)
- United States: $26.4 billion (10%)
- Japan: $20.7 billion (7.8%)
- India: $20.3 billion (7.7%)
- Singapore: $12.2 billion (4.6%)
- Malaysia: $12 billion (4.5%)
- South Korea: $10.8 billion (4.1%)
- Philippines: $10.7 billion (4.1%)
- Vietnam: $9.5 billion (3.6%)
- Thailand: $7.7 billion (2.9%)
- Taiwan: $6.7 billion (2.5%)
- Australia: $5 billion (1.9%)
- Netherlands: $4.7 billion (1.8%)
- Pakistan: $3.5 billion (1.3%)
- United Arab Emirates: $3.1 billion (1.2%)
- Bangladesh: $32 billion (1.1%)
- Hong Kong: $2.62 billion (1%)
- Saudi Arabia: $2.6 billion (1%)
- Germany: $2.4 billion (0.9%)
- Italy: $2.25 billion (0.9%)
- Mexico: $2.25 billion (0.8%)
- Spain: $2.11 billion (0.8%)
- Türkiye: $1.94 billion (0.7%)
- United Kingdom: $1.79 billion (0.7%)
- Brazil: $1.72 billion (0.7%)
Nine-tenths (90%) of Indonesian exports in 2024 were delivered to the above 25 trade partners.
The top importers that increased their purchases from Indonesia from 2023 to 2024 were Australia (up 56% from 2023), Brazil (up 34.8%), Türkiye (up 26%), Vietnam (up 25.7%) then Saudi Arabia (up 23.8%).
Major decliners for buying Indonesian exported products included Bangladesh (down -15.6% from 2023), Germany (down -5.2%), Spain (down -3.9%) and mainland China (down -3.8%).
Countries Causing Worst Trade Deficits for Indonesia
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
- mainland China: -US$10.3 billion (country-specific trade deficit in 2024)
- Singapore: -$9.3 billion
- Australia: -$5.5 billion
- Brazil: -$3.7 billion
- Nigeria: -$2.6 billion
- Thailand: -$2 billion
- Angola: -$1.6 billion
- Saudi Arabia: -$1.5 billion
- Germany: -$1.3 billion
- Argentina: -$1.2 billion
Among Indonesian’s trading partners that cause the greatest negative trade balances, Indonesian deficits with Singapore (up 60.8%), Angola (up 50.5%) and Brazil (up 3.5%) grew from 2023 to 2024.
In addition, Indonesian reversed a $2.1 billion surplus trading with mainland China to record the $10.3 billion trade deficit listed above.
These cashflow deficiencies clearly indicate Indonesia’s competitive disadvantages with the above countries, but also represent key opportunities for Indonesia to develop country-specific strategies to strengthen its overall position in international trade.
Countries Causing Biggest Trade Surpluses for Indonesia
Indonesia generated an overall $31 billion trade surplus for 2024, down by -16.2% from $37.1 billion in black ink one year earlier in 2023.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
- India: US$14.7 billion (country-specific trade surplus in 2024)
- United States: $14.4 billion
- Philippines: $9 billion
- Japan: $5.7 billion
- Netherlands: $3.7 billion
- Vietnam: $3 billion
- Bangladesh: $2.92 billion
- Pakistan: $2.9 billion
- Taiwan: $2.7 billion
- Mexico: $1.9 billion
Among Indonesian’s trading partners that generate the greatest positive trade balances, Indonesian surpluses with Vietnam (up 35%), Japan (up 34.4%) and the Netherlands (up 27.5%) grew at the fastest pace from 2023 to 2024.
These positive cashflow streams clearly indicate Indonesia’s competitive advantages with the above countries, but also represent key opportunities for Indonesia to develop country-specific strategies to optimize its overall position in international trade.
Major Indonesian Export Companies
Nine Indonesian corporations rank among Forbes Global 2000. Below is a sample of the major Indonesian conglomerates that Forbes included.
- Gudang Garam (Tobacco)
- Telekom Indonesia (Telecommunications services)
Wikipedia also lists exporters from Indonesia. Selected examples are shown below.
- Astra International (financial/industrial conglomerate)
- Bumi Resources (coal)
- Djarum (tobacco cigarettes)
- Dragon Computer & Communication (computer hardware)
- Krakatau Steel (steel products)
- MedcoEnergi (oil, gas)
- Pertamina (oil, natural gas)
- United Tractors (heavy equipment)
See also Indonesia’s Top 10 Exports, Indonesia’s Top 10 Imports, Top Asian Export Countries, Palm Oil Exports by Country and Coal Exports by Country
Research Sources:
Alibaba, Sourcing Buyers. Accessed on September 26, 2025
Central Intelligence Agency, The World Factbook, Field Listing: Imports – Commodities. Accessed on September 26, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on September 26, 2025
International Trade Centre, Trade Map. Accessed on September 26, 2025
Investopedia, Net Exports Definition. Accessed on September 26, 2025