Indonesia's Nickel Exports to China Reach Rp60 Trillion in January-November 2022

China was the main destination for Indonesian nickel exports from January to November 2022.

According to data from the Central Statistics Agency (BPS), Indonesia's nickel exports to China reached 581.66 million tons during the January-November 2022 period. This figure surged by 1,077.06% compared to the same period the previous year.

Similarly, the value of national nickel exports to China reached US$3.87 billion, equivalent to Rp60.1 trillion (at an exchange rate of Rp15,500 per US dollar) during the January-November 2022 period. This value jumped by 2,109.85% compared to the same period the previous year.

Indonesian nickel exports to China accounted for 74.29% of Indonesia's total nickel exports, which reached US$5.22 billion in the first eleven months of last year. This share was the largest compared to other countries.

Other major destinations for Indonesian nickel exports were Japan (US$1.1 billion or 21.09%), followed by South Korea (US$106.94 million), Malaysia (US$70.67 million), and Norway (US$61.87 million).

This was followed by Singapore (US$1.08 million), India (US$579,87 thousand), Hong Kong (US$78.87 thousand), Brazil (US$14.67 thousand), and the United States (US$5.6 thousand). Nickel exports to other countries totaled US$4.8 thousand.

The Indonesian government has banned nickel ore exports since January 2020, as stipulated in the Ministry of Energy and Mineral Resources Regulation No. 11 of 2019.

This ban aimed to boost downstream industries to add economic value domestically. With the development of domestic nickel smelters, the value of exports of this Indonesian flagship commodity surged by more than 400% in the first eleven months of 2022.

Indonesian Nickel Export Volume to the Top 10 Destination Countries (Jan-Nov 2022):

1. China: 581,663.70 tons
2. Japan: 71,249.99 tons
3. South Korea: 19,441.78 tons
4. Malaysia: 10,671.50 tons
5. Norway: 4,993.12 tons
6. Singapore: 134.05 tons
7. India: 216.70 tons
8. Hong Kong: 4.95 tons
9. Brazil: 0.01 tons
10. United States: 0.09 tons