That dollar amount reflects a 62% upturn since 2018 when Indonesian exports totaled $180.2 billion.
Year over year, the overall value of Indonesian exports accelerated by 26.1% compared to $231.6 billion in 2021.
Based on the average exchange rate for 2022, the Indonesian rupiah depreciated by -4.3% against the US dollar since 2018 and fell by -3.8% from 2021 to 2022. Indonesia’s weaker local currency made its exports paid for in stronger US dollars relatively less expensive for international buyers in 2022.
Major Customers for Indonesian Exported Products
The latest available country-specific data shows that 78.3% of products exported from Indonesia were bought by importers in: mainland China (22.6% of the Indonesian total), United States of America (9.7%), Japan (8.5%), India (8%), Malaysia (5.3%), Singapore (4.9%), Philippines (4.4%), South Korea (also 4.4%), Taiwan (3%), Vietnam (2.8%), Thailand (also 2.8%) and the Netherlands (1.8%).
From a continental perspective, about three-quarters (74.6%) of Indonesia’s exports by value was delivered to fellow Asian countries while 10.7% was sold to importers in North America. Indonesia shipped another 9.2% worth of goods to Europe.
Smaller percentages went to Africa (2.6%), Oceania (1.6%) led by Australia and New Zealand, then Latin America (1.4%) excluding Mexico but including the Caribbean.
Given Indonesia’s population of 274.9 million people, its total $292 billion in 2022 exports translates to roughly $1,100 for every resident in the Asian nation. That dollar metric exceeds the average $840 per capita in 2021.
Indonesia’s Top 10 Exports
The following export product groups represent the highest dollar value in Indonesian global shipments during 2022. Also shown is the percentage share each export category represents in terms of overall exports from Indonesia.
- Mineral fuels including oil: US$71 billion (24.3% of total exports)
- Animal/vegetable fats, oils, waxes: $35.2 billion (12.1%)
- Iron, steel: $27.8 billion (9.5%)
- Electrical machinery, equipment: $14.6 billion (5%)
- Vehicles: $11 billion (3.8%)
- Ores, slag, ash: $10.3 billion (3.5%)
- Other chemical goods: $8.5 billion (2.9%)
- Footwear: $7.7 billion (2.7%)
- Machinery including computers: $7 billion (2.4%)
- Rubber, rubber articles: $6.4 billion (2.2%)
By value, Indonesia’s top 10 exports totaled over two-thirds (68.3%) of Indonesia’s total exports.
Ores, slag and ash was the fastest grower among the top 10 export categories, up by 62.2% from 2021 to 2022. Copper ores or concentrates propelled a large part of that increase.
In second place for improving export sales was mineral fuels including oil via a 57.5% gain led by coal and petroleum gases.
Indonesia’s shipments of the metals iron and steel posted the third-fastest gain in value, up by 33%.
The lone decliner among Indonesia’s top 10 export categories was rubber including items made from rubber, dropping -10.1% year over year.
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of Indonesia’s Most Valuable Export Products below.
Products Generating Highest Trade Surpluses for Indonesia
Overall, Indonesia generated a US$54.5 billion trade surplus for 2022, expanding 51.9% from $35.9 billion in black ink one year earlier in 2021.
The following types of Indonesian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Mineral fuels including oil: US$26.1 billion (Up by 60.8%)
- Iron, steel: $13.9 billion (Up by 54.9%)
- Ores, slag, ash: $8.9 billion (Up by 92.9%)
- Footwear: $6.7 billion (Up by 23.1%)
- Nickel: $5.9 billion (Up by 401.4%)
- Clothing, accessories (not knit or crochet): $4.6 billion (Up by 21.1%)
- Other chemical goods: $4.59 billion (Up by 47.4%)
- Knit or crochet clothing, accessories: $4.4 billion (Up by 8%)
- Wood: $4.1 billion (Down by -8.1%)
Indonesia has highly positive net exports in the international trade of coal and crude oil. In turn, these cashflows indicate Indonesia’s strong competitive advantages under the mineral fuels including oil product category.
Products Causing Worst Trade Deficits for Indonesia
Below are exports from Indonesia that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Indonesia’s goods trail Indonesian importer spending on foreign products.
- Machinery including computers: -US$24.6 billion (Up by 26% since 2021)
- Electrical machinery, equipment: -$11.8 billion (Up by 12.1%)
- Plastics, plastic articles: -$8.2 billion (Up by 12.6%)
- Cereals: -$4.4 billion (Up by 8.3%)
- Organic chemicals: -$3.6 billion (Up by 0.6%)
- Sugar, sugar confectionery: -$2.9 billion (Up by 29%)
- Optical, technical, medical apparatus: -$2.7 billion (Up by 10.7%)
- Fertilizers: -$2.5 billion (Up by 85.5%)
- Articles of iron or steel: -$2.2 billion (Up by 45.1%)
- Food industry waste, animal fodder: -$2 billion (Down by -15.7%)
Indonesia has highly negative net exports and therefore deep international trade deficits for machinery, particularly those related to computers.
Major Indonesian Export Companies
Nine Indonesian corporations rank among Forbes Global 2000. Below is a sample of the major Indonesian conglomerates that Forbes included.
- Gudang Garam (Tobacco)
- Semen Indonesia (Construction Materials)
- Telekom Indonesia (Telecommunications services)
Wikipedia also lists exporters from Indonesia. Selected examples are shown below.
- Astra International (financial/industrial conglomerate)
- Bumi Resources (coal)
- Djarum (tobacco cigarettes)
- Dragon Computer & Communication (computer hardware)
- Krakatau Steel (steel products)
- MedcoEnergi (oil, gas)
- Pertamina (oil, natural gas)
- United Tractors (heavy equipment)
Searchable List of Indonesia’s Most Valuable Export Products
The following searchable table displays 100 of the most in-demand goods shipped from Indonesia during 2022. Shown beside each product label is its total export value then the percentage increase or decrease since 2021.
| Rank | Indonesia's Export Product | Value (US$) | YoY |
|---|---|---|---|
| 1 | Coal, solid fuels made from coal | $46,739,252,000 | +76.2% |
| 2 | Palm oil | $27,765,830,000 | +3.8% |
| 3 | Iron ferroalloys | $13,707,886,000 | +92.9% |
| 4 | Petroleum gases | $9,822,426,000 | +31.8% |
| 5 | Copper ores, concentrates | $9,243,991,000 | +71.6% |
| 6 | Lignite | $7,863,652,000 | +58.1% |
| 7 | Flat-rolled stainless steel items | $6,818,045,000 | +3.5% |
| 8 | Industrial fatty acids and alcohols | $6,392,306,000 | +20.7% |
| 9 | Nickel matte, oxide sinters | $5,962,377,000 | +371.5% |
| 10 | Cars | $5,545,393,000 | +65.1% |
| 11 | Stainless steel ingots | $4,064,165,000 | +9.1% |
| 12 | Jewelry | $3,782,695,000 | +47.8% |
| 13 | Natural rubber | $3,544,961,000 | -11.8% |
| 14 | Footwear (textile) | $3,412,704,000 | +34.9% |
| 15 | Footwear (leather) | $3,307,129,000 | +13.3% |
| 16 | Coconut/palm/babassu oil | $3,127,463,000 | +8.4% |
| 17 | Processed petroleum oils | $3,067,947,000 | +124.6% |
| 18 | Chemical woodpulp (non-dissolving) | $2,717,939,000 | +8.5% |
| 19 | Uncoated paper for writing/printing | $2,378,372,000 | +18.8% |
| 20 | Unwrought tin | $2,370,769,000 | -2.3% |
| 21 | Laminated wood (including plywood, veneer panels) | $2,354,732,000 | -6.3% |
| 22 | Electrical machinery | $2,311,556,000 | +407.5% |
| 23 | Miscellaneous oil cakes | $2,239,320,000 | +68.8% |
| 24 | Automobile parts/accessories | $2,003,417,000 | +4.6% |
| 25 | Phone devices including smartphones | $1,980,490,000 | +32.5% |
| 26 | Margarine | $1,971,076,000 | +20.8% |
| 27 | Rubber tires (new) | $1,850,136,000 | +7% |
| 28 | Printing machinery | $1,775,003,000 | +9.5% |
| 29 | Refined copper, unwrought alloys | $1,740,050,000 | -6.8% |
| 30 | Ammonia | $1,713,743,000 | +90.9% |
| 31 | Crustaceans (including lobsters) | $1,650,858,000 | -3.5% |
| 32 | Phone devices including smartphones | $1,624,288,000 | -4% |
| 33 | TV receivers/monitors/projectors | $1,612,996,000 | -5.7% |
| 34 | Miscellaneous furniture | $1,579,436,000 | -5.1% |
| 35 | Crude oil | $1,572,374,000 | -43.8% |
| 36 | Motorcycles | $1,550,460,000 | -2.1% |
| 37 | Petroleum oil residues | $1,542,914,000 | +151.2% |
| 38 | Animal/vegetable hydrogenated fats, oils | $1,418,807,000 | +69.3% |
| 39 | Iron or non-alloy steel products (semi-finished) | $1,376,662,000 | -25% |
| 40 | Acyclic alcohols | $1,368,133,000 | +34.2% |
| 41 | Precious metal waste, scrap | $1,306,983,000 | +13.4% |
| 42 | Jerseys, pullovers (knit or crochet) | $1,264,020,000 | -3% |
| 43 | Motorcycle parts/accessories | $1,153,301,000 | +2.7% |
| 44 | Coffee | $1,149,168,000 | +33.8% |
| 45 | Nitrogenous fertilizers | $1,120,364,000 | +41.9% |
| 46 | Light vessels, fire boats, floating docks | $1,106,741,000 | +1461.7% |
| 47 | Women's clothing (not knit or crochet) | $1,082,461,000 | +24% |
| 48 | Crustaceans, molluscs (preserved/prepared) | $1,082,310,000 | -10.3% |
| 49 | Cases, handbags, wallets | $1,079,865,000 | +27.9% |
| 50 | Gold (unwrought) | $1,027,514,000 | -32.4% |
| 51 | Men's suits, trousers (not knit or crochet) | $1,008,039,000 | +24.1% |
| 52 | Cigars/cigarellos, cigarettes | $973,334,000 | +13.8% |
| 53 | Hot-rolled iron or non-alloy steel products | $953,953,000 | +31.2% |
| 54 | Chemical woodpulp (dissolving) | $946,581,000 | +28.7% |
| 55 | Saturated acyclic mono acids | $933,617,000 | +16.5% |
| 56 | Women's clothing (knit or crochet) | $924,731,000 | -2% |
| 57 | Bread, biscuits, cakes, pastries | $896,088,000 | +16.2% |
| 58 | Organic surface-active products, soap | $871,438,000 | +9.2% |
| 59 | Seats (excluding barber/dentist chairs) | $870,395,000 | +3.4% |
| 60 | Fish fillets, pieces | $868,586,000 | +33.9% |
| 61 | Footwear (rubber or plastic) | $853,854,000 | +47.8% |
| 62 | Aluminum oxide/hydroxide | $793,619,000 | +82.1% |
| 63 | Household/sanitary rolls | $793,166,000 | +39.6% |
| 64 | Uncombed artificial staple fibers | $750,051,000 | +0.7% |
| 65 | Moluscs | $738,536,000 | +20.1% |
| 66 | Other food preparations | $683,731,000 | +13.5% |
| 67 | Lower-voltage switches, fuses | $679,471,000 | +9.3% |
| 68 | Plastic plates, sheets, film, tape, strips | $678,547,000 | +0.7% |
| 69 | Electrical capacitators | $649,481,000 | -1.9% |
| 70 | Copper wire | $649,256,000 | -5.9% |
| 71 | Cocoa butter, fat, oil | $636,336,000 | -4.8% |
| 72 | Aluminum ores, concentrates | $623,001,000 | -0.8% |
| 73 | Synthetic staple fiber yarn | $592,482,000 | -17.2% |
| 74 | Turtles' eggs, birds' nests | $590,577,000 | +14.1% |
| 75 | Coffee/tea extracts, concentrates | $588,532,000 | -2.2% |
| 76 | Shaped wood | $577,175,000 | -19.2% |
| 77 | Models, puzzles, miscellaneous toys | $560,202,000 | +15.2% |
| 78 | Glycerol (glycerine) | $557,655,000 | +38.1% |
| 79 | Wood carpentry, builders' joinery | $553,218,000 | +2.3% |
| 80 | Piston engine parts | $552,130,000 | +12.7% |
| 81 | Electrical converters/power units | $537,803,000 | +32% |
| 82 | Bras, corsets (not knit or crochet) | $529,300,000 | +8.6% |
| 83 | T-shirts, vests (knit or crochet) | $526,576,000 | +3% |
| 84 | Women's shirts (not knit or crochet) | $517,816,000 | +13.7% |
| 85 | Integrated circuits/microassemblies | $517,727,000 | +37.4% |
| 86 | Primary batteries/cells | $510,453,000 | -1.3% |
| 87 | Heavy machinery (bulldozers, excavators, road rollers) | $503,905,000 | +38% |
| 88 | Refrigerators, freezers | $499,866,000 | +1.9% |
| 89 | Miscellaneous vegetable products | $493,970,000 | +19% |
| 90 | Medication mixes in dosage | $479,010,000 | +17% |
| 91 | Coiled iron or non-alloy steel bars, rods | $476,916,000 | +0.2% |
| 92 | Piston engines | $467,219,000 | +11.2% |
| 93 | Packaged insecticides/fungicides/herbicides | $464,513,000 | +33.5% |
| 94 | Men's coats, jackets (not knit or crochet) | $462,869,000 | -0.6% |
| 95 | Biodiesel | $462,471,000 | +140.9% |
| 96 | Whole fish (frozen) | $455,884,000 | +5.4% |
| 97 | Musical instruments including electrical | $450,544,000 | +12.3% |
| 98 | Locust beans | $442,176,000 | +89.4% |
| 99 | Chemical industry products/residuals | $434,169,000 | +34.7% |
| 100 | Wigs, false beards, eyelashes | $433,408,000 | +2.9% |
These 100 exported goods were worth a subtotal of US$247.5 billion or well over four-fifths (84.8%) by value for all products exported from Indonesia during 2022.
In macroeconomic terms, Indonesia’s total exported goods represent 7.3% of its overall Gross Domestic Product for 2022 ($4.024 trillion valued in Purchasing Power Parity US dollars). That 7.3% for exports to overall GDP in PPP for 2022 compares to 6.4% for 2021. Those percentages suggest a relatively increasing reliance on products sold on international markets for Indonesia’s total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. Indonesia’s unemployment rate averaged 5.5% in 2022, down from an average 6.49% for 2021 according to the International Monetary Fund.
Indonesia’s capital city is Jakarta.
See also Indonesia’s Top Trading Partners, Indonesia’s Top 10 Imports, Top Asian Export Countries, Palm Oil Exports by Country and Coal Exports by Country
Research Sources:
Central Intelligence Agency, The World Factbook report on East Asia/Southeast Asia: Indonesia. Accessed on April 5, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 5, 2023
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on April 5, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 5, 2023
Investopedia, Net Exports Definition. Accessed on April 5, 2023
International Trade Centre, Trade Map. Accessed on April 5, 2023
Wikipedia, Gross domestic product. Accessed on April 5, 2023
Wikipedia, List of Companies of Indonesia. Accessed on April 5, 2023
Wikipedia, Purchasing power parity. Accessed on April 5, 2023
