Top 5 Indonesia Export Product List 2024 and Trade Trends

Indonesia export product list is undergoing a quiet transformation amid global trade realignments. In 2024, the country’s export value exceeded US$300.87 billion, driven by flagship commodities like palm oil, coal, and nickel. But the data reveals deeper shifts, non-traditional markets are rising, and value-added products are beginning to make their mark.

This article maps out the top 5 Indonesia export products in 2024, the leading destination markets, and what trends exporters should expect heading into late 2025.

Snapshot of Indonesia’s Total Export Value From 2024 To H1 2025

Indonesia’s export value trend from 2014 to 2024 shows a general pattern of growth with some fluctuations largely connected to global commodity prices and economic conditions. In 2024, Indonesia’s total export value was approximately US$300.87 billion, a slight increase compared to 2023, following a decline from the commodity-peak year 2022.

Image Caption: Line chart showing Indonesia’s export value from 2014 to 2024 in billion USD, with a sharp rise after 2020 and stabilization near 300 billion USD.

According to Statistics Indonesia (BPS), Indonesia’s exports reached approximately US$87.44 billion between January and April 2025, marking a 6.65% increase compared to the same period in 2024. By May 2025, the cumulative export value rose to around US$111.98 billion, which reflects a 6.98% increase compared to May 2024’s value of US$104.67 billion.

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What are Indonesia's top 5 export products in 2024?

Natural resources and industrial goods drive Indonesia’s export economy. Coal briquettes lead exports, generating about USD 31 billion in 2024. This makes coal Indonesia’s top export product. Iron and steel rank second, worth USD 28 billion and contributing 6.6% of total exports. Palm oil remains a major export, accounting for 6.4% of total exports. Metal ores, slag, and ash — including nickel and copper — add another USD 11.3 billion, or 3.8% of exports.

Below is a breakdown of Indonesia’s most exported product groups, along with key examples and their corresponding HS codes:

Top 1 export product | Mineral Fuels - 10.3%

Indonesia is one of the world’s largest mineral fuel exporters, a position it has maintained consistently over the past decade, especially in thermal coal. In 2024 alone, Indonesia exported $31 billion worth of coal briquettes, accounting for nearly 19% of total global coal briquette exports.

What Are the Top 5 Indonesian Mineral Fuels Export Markets in 2024?

In 2024, Indonesia’s mineral fuels exports are led by China and India, holding over 40% and 20% market shares. Other key destinations iclude South Korea (6%), Japan (5%), and the Philippines (4%). China imported 215.7 million MT. These figures highlight Indonesia’s reliance on China and India as dominant markets for its mineral fuel exports, according to data from the World Bank and UN Comtrade.

However, Indonesia’s coal export market is undergoing a structural shift, with declining demand from key Asian buyers. In the first four months of 2025, China reduced its coal imports from Indonesia by 20% (14 million tons) compared to the same period in 2024, driven by rising domestic production and stricter air quality policies. India followed with a 15% cut (6 million tons) as it ramped up local output.

Other major markets also declined: Japan and South Korea imported 13 million tons, down from 17 million tons, while Taiwan, Thailand, the Philippines, Malaysia, and Pakistan all trimmed their orders.

What Factors Could Shape Indonesia’s Mineral Fuel Export in H2 2025?

• Indonesian coal exports in the first half of 2025 decreased by 10–12% year-over-year (YoY) due to significantly reduced demand from China and India, the two largest importers. This softening trend is expected to continue into the second half, with the total annual exports forecast around 540 million metric tons — down from 555 million tons in 2024
• Indonesia is redirecting more coal to domestic users, especially nickel smelters and the power sector. The domestic share of coal supply is forecast to reach about 49% in 2025, its highest in a decade, as miners prioritize local sales over volatile exports.
• The government has introduced a new coal export pricing mechanism, requiring transactions at a set benchmark price, which is reviewed twice monthly. The average coal export price is predicted at USD$110 per ton for the rest of 2025, though actual trade prices are likely to vary with global market conditions and quality grades

In summary, Indonesia’s mineral fuels exports from July 2025 onward will face lower total shipments, increased domestic prioritization, a shifting export mix, and price volatility, driven by global energy transitions and demand realignment in key markets.

With global coal prices softerning and buyer priorities shifting, Indonesian coal exports must act fast to stay price-competitive and diversity beyond traditional markets like China and India.

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Top 2 export product | Iron and Steel - 6.6%

Indonesia’s iron and steel exports demonstrated robust momentum in 2022–2023, with export values reaching around $28 billion. This placed Indonesia as the 4th largest steel exporter globally by value, a significant rise from the 17th position in 2019.

However, in 2024, this upward trend saw a reversal, with export values declining to approximately $19.71 billion. The drop reflects shifting global demand dynamics, increased competition, and possible price corrections after a period of rapid expansion.

Which Countries Imported the Most Indonesian Iron and Steel in 2024?

In 2024, China dominated as the largest importer of iron and steel from Indonesia, accounting for 72.2% of the total export value. Taiwan followed distantly with 10.1%, while India imported 8.8%, placing third. Smaller but notable importers included Vietnam with 5.5% and Turkey with 3.4%.

Data source: Indonesian Iron and Steel Industry Association

In early 2025, Indonesia’s iron and steel exports to China, which dominated 72.2% of 2024 exports, showed a slight decline due to increased Chinese domestic production and market competition. Taiwan and India’s imports stabilized, with India’s share expected to grow modestly from infrastructure demand.

Smaller markets like Vietnam and Turkey experienced minor fluctuations, reflecting regional economic shifts. This marks a subtle market restructuring where Indonesia seeks to diversify exports beyond traditional heavy buyers. Overall, while China remains the top importer, early 2025 trends indicate reduced reliance on it and growing emphasis on Southeast Asian markets amid shifting global demand.

What Are the Key Drivers of Indonesia's Iron and Steel Export for H2 2025?

• Regional demand from Southeast Asia and India remains a key growth driver, fueled by infrastructure projects and urbanization, partially offsetting slower demand from traditional markets like China.
• Indonesia’s iron and steel export market in 2025 is shaped by global trade shifts and rising US–China tariffs. With US duties on Chinese steel up to 145%, China may divert exports to Indonesia, raising concerns about an influx of cheaper steel. Domestic producers face pressure, as warned by the Indonesian Iron and Steel Industry Association.
• Domestic production capacity is expanding rapidly, with operational and planned crude steel capacities set to exceed 45 million tonnes, supporting future export potential. Nonetheless, underutilization and lack of technology roadmaps pose challenges.

In summary, Indonesia’s iron and steel exports in H2 2025 are supported by strong regional demand and growing local production, but face risks from low factory use and cheaper Chinese steel being redirected due to US tariffs, putting pressure on local producers.

Top 3 export product | Palm Oil - 6.6%

According to the CPOP Palm Oil Database, Indonesia has maintained its dominant position in palm oil exports throughout the entire period from 2010 to 2024. In 2024, Indonesia exported approximately 24.2 million metric tons of palm oil, comprising both crude and refined palm oil products. This volume reflects a slight decrease compared to previous years but maintains Indonesia’s position as the world’s largest palm oil exporter.

Image Caption: Line chart showing annual CPO and processed palm oil exports from 2010 to 2024 by major countries, led by Indonesia and Malaysia.

Who Are the Top 5 Buyers of Indonesian Palm Oil in 2024?

In 2024, India, China, Pakistan, the United States, and Bangladesh were the top five buyers of Indonesian palm oil, collectively accounting for nearly 60% of the total export value. India led with US$4.53B (19.78% share), followed by China with US$3.24B (14.15%), and Pakistan with US$2.56B (11.18%).

The market structure highlights Asia’s continued dominance as Indonesia’s key export region. Meanwhile, demand from developed economies like the U.S. remained modest but steady, despite growing sustainability scrutiny.

In 2025, Indonesia’s palm oil export market structure began to shift due to global policy and economic pressures. Exports to the United States declined significantly following a proposed 32% import tariff, reducing its share and forcing Indonesian exporters to pivot toward Asia and the Middle East. Conversely, demand from Pakistan and Bangladesh increased slightly due to population growth and food security needs.

Exports to the EU dropped further amid deforestation regulations, while China maintained a stable share. India remained the largest importer, but its growth slowed. The overall trend in 2025 shows diversification away from Western markets toward emerging regions.

What’s Ahead for Indonesia’s Palm Oil Exports in H2 2025?

• Indonesia’s palm oil exports in the first half of 2025 experienced a temporary slump with shipments down over 5%, hitting a low in April. However, production rebounded strongly by May, with output reaching 47.8 million tons, driving export volumes back up.
• Analysts project Indonesia’s total palm oil exports to rise to about 25 million tons in 2025, an increase of approximately 1 million tons over 2024, supported by recovering production and stable demand from key markets like China, the EU, and Pakistan.
• Domestic consumption for biodiesel blending (B40 mandate) is rising, increasing internal demand and potentially balancing export volumes. Indonesia has also increased export levies to manage supply.

Are you an Indonesian crude palm oil exporter trying to protect your buyer base or expand into markets now favoring Malaysian suppliers?

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Top 4 export product | Metal Ores, Slag, and Ash - 3.8%

In 2024, Indonesia’s exports of metal ores, slag, and ash reached a total of over USD$11.3 billion. From January to March 2025, metal ores, slag, and ash exports soared by over 4,150% year-on-year, reaching about USD$573.6 million in just the first quarter.

What Are the Top 5 Indonesian Metal Ores, Slag, and Ash Export Markets in 2024?

The top five export destinations reflect both traditional and emerging market demand. China remained the largest buyer, driven by its appetite for nickel ore used in stainless steel production and the rapidly expanding battery sector. India ranked second, mainly importing copper and aluminum ores to support its growing infrastructure and energy needs.

South Korea stood out as a consistent buyer of nickel matte, which plays a vital role in its electric vehicle and steel industries. Meanwhile, Japan maintained a niche position by importing smaller volumes of high-purity slag and ash required for precision industrial processes. Germany, while not a traditional market, showed increasing demand, reflecting the EU’s push for raw material diversification amid global supply chain realignments.

What Factors Could Shape Indonesia’s Metal Ores, Slag, and Ash in late 2025?

• Indonesia continues to push its downstream mining project to increase export value by focusing on refining and processing minerals domestically rather than exporting raw ores. This strategy aims to improve export capacity and attract foreign investment, especially in electric vehicle (EV) battery materials. This will likely elevate the quality and value of metal ore exports in H2 2025.
• The global demand for metals such as nickel and tin remains strong, driven by industries like semiconductors, electric vehicles, and construction. Indonesia’s nickel production and exports are expected to rise with new projects coming online, which supports the export growth for metal ores and related products in H2 2025.
• Environmental concerns, regulatory changes, and geopolitical factors are risks that may cause some volatility, but prevailing positive government policy and demand-side trends should offset these headwinds.

In summary, the H2 2025 outlook for Indonesia’s metal ores, slag, and ash exports is promising. Exports are expected to remain a significant part of Indonesia’s merchandise exports with ongoing growth driven by downstream processing initiatives, strong demand in emerging sectors like EV batteries, and expanding production capacity, particularly in nickel and other key ores.

Top 5 export product | Nickel and Articles thereof - 6.6%

In 2024, Indonesia exported approximately USD$7.99 billion worth of nickel and articles thereof, accounting for around 2.66% of the country’s total exports. Driven by strong demand from the electric vehicle and battery industries, especially in China and other Asian markets, nickel remains one of Indonesia’s most strategic mineral exports.

What Are Indonesia’s Biggest Nickel Export Markets in 2024?

In 2024, China dominated Indonesia’s nickel exports, importing about 877,000 tons by July — roughly 92% of total shipments — driven by its large smelting and EV battery sectors. India followed with 44,000 tons, and Japan with 6,800 tons, reflecting growing industrial demand. The EU also remained a key market, though exact volumes were unclear. Regionally, Malaysia and Singapore served as important trade hubs due to proximity and integration. Overall, Indonesia’s nickel export landscape was shaped by China’s overwhelming presence, supported by industrial buyers across Asia and Europe seeking a secure and strategic nickel supply.

How Will Indonesia’s Nickel Exports Evolve in late 2025?

• Indonesia plans to cut its nickel mine quotas by nearly 40% in 2025, from 272 million to 150 million tonnes. This drastic reduction, potentially removing over a third of global supply, aims to curb oversupply and support nickel prices, fundamentally altering the global market balance.
• The quota cuts align with Indonesia’s strategy to bolster its nickel industry by shifting from raw ore exports to higher-value processed products like ferronickel and battery-grade nickel. This encourages investment in local processing facilities, enhancing the value of Indonesia’s nickel exports.
• The reduced Indonesian output is expected to tighten global nickel supply and potentially drive up prices, impacting industries reliant on nickel, particularly the EV sector. While some oversupply is projected, the cuts could create a deficit not seen in recent years.

In summary, H2 2025 will likely see restrained raw nickel ore volumes due to government-mandated production cuts, coupled with rising refined nickel exports driven by downstream processing expansion. This dual dynamic aims to stabilize global nickel prices while maintaining Indonesia’s dominance in the nickel industry and supporting its strategic focus on the EV battery supply chain.

Conclusion

Indonesia’s 2024 export data shows both the strength of traditional commodities and the rise of new high-value sectors. As trade dynamics shift and policy changes ripple across markets, exporters need sharper visibility and faster reaction times.

Success in 2025 and the near future won’t just be about what you export, but where, to whom, and how strategically.

For exporters navigating market volatility and changing buyer behavior, real-world data is your edge.

Whether you are shipping palm oil to India or nickel to the EU, TradeInt gives you the intelligence to move faster and smarter.