As per Indonesia Export Data, most important export commodities are oil and gas, minerals palm oil, electrical appliances and rubber products. Indonesia’s economy is largely driven by domestic activity instead of exports that helped to protect it from global crisis of 2009.

As per the Indonesia Import Data, the country has a market based economy in which government plays a major role, including administering prices for some goods like fuel, rice and electricity. The main trading partners of the country are other Asian countries – Japan, China, Singapore and South Korea. The United States of America is also a significant export market.

The most important export commodities of the country are oil and gas, minerals, crude palm oil, electrical appliances and rubber products. Indonesia’s export of goods and services as a percentage of GDP is very low at 20%.

As per Indonesia Export Data, the country’s exports of goods around the globe amounted to 178,261 US dollars. The top Indonesia’s exports account for 68.2% of Indonesia’s total exports. In past two months as per Indonesia Custom data, the country’s exports hit a record high of $21.42 billion in August.

Robust exports helped Indonesia pull out of recession in second quarter. The resource-rich country’s August shipments rose 64.1% from a year earlier. Sales of palm oil, coal and natural gas, and other top commodities rose more than 100%. Shipments of copper, tin and steel also rose up to new heights.

The commodity prices also are rising as more economies reopen from last year’s Covid lockdowns. The prices of coal and palm oil prices have reached record high as demand overtake supply while the prices of tin also rose due to supply crunch.

Economists of Indonesia believe that it might not take long before Indonesia’s trade numbers normalize and commodity prices fall. The exports of the country increased 47.64% from a year earlier to USD 20.60 billion in September of 2021.

Exports have been an engine of economic growth in Indonesia. The Southeast Asia’s biggest economy has been enjoying an export boom on the back of robust commodity prices, allowing trade surplus every month since May 2020.

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