Indonesia's Minister of Trade, Zulkifli Hasan, has announced the export of 30,000 metric tons of hot rolled coil steel produced by PT Krakatau Steel to Italy. The release of this export strengthens Indonesia's position in the global steel sector, with steel exports now ranking third among Indonesia's leading exports after coal and palm oil. Hasan emphasized the importance of value-added products and industrial competitiveness in the government's commitment to advancing Indonesia's position in the global market.
The Director of PT Krakatau Steel, Purwono Widodo, confirmed that this export contributes IDR 315 billion (USD 21.15 million) to the country's foreign exchange. Indonesia has made significant progress in the steel industry in the past five years, with exports increasing by 476% from USD 5.6 billion in 2018 to USD 27.82 billion in 2022. This growth has pushed Indonesia to become one of the top five steel exporters in the world.
