Indonesia's Iron and Steel Export Value Increased by 43.03% in 2020

Indonesia's iron and steel exports have shown strong performance over the past five years. Data from the Central Statistics Agency (BPS) indicates that the value of iron and steel exports in 2020 reached US$11.3 billion, a 43.03% increase from US$7.9 billion the previous year.

The value of iron and steel exports has steadily increased since 2016, when it was recorded at US$2.2 billion. Since then, it has risen at an average annual rate of 52.08%.

In addition to the increasing value, the volume of iron and steel exports has also shown an upward trend since 2016, starting at 2.9 million tons. The volume increased at an average annual rate of 34.68%, reaching 9.3 million tons in 2020.

China was the largest destination for Indonesian iron and steel exports in 2020, with a value of US$7.53 billion and a volume of 6.03 million tons. Taiwan followed in second place, with exports valued at US$1.03 billion and a volume of 660.3 million tons.

South Korea was the third largest destination for Indonesian iron and steel exports, with a value of US$556.2 million and a volume of 348.4 million tons. Malaysia followed in fourth place, with exports valued at US$422.2 million and a volume of 531.1 million tons.