Indonesia has successfully entered the world’s top five exporters of iron and steel products, marking a significant milestone driven by the government’s downstreaming strategy. Trade Minister Budi Santoso stated that Indonesia has climbed sharply from 17th place in 2019 to fifth position globally, now ranking behind China, Germany, Japan, and South Korea. This achievement reflects stronger domestic industrial capacity and higher value creation from natural resources as a result of sustained downstream development policies.

The country’s improved performance is also evident in its consistently positive trade balance. In 2023, Indonesia recorded an iron and steel trade surplus of USD 15.07 billion, supported by exports valued at USD 25.80 billion. The surplus expanded further to USD 18.44 billion in 2024, with exports reaching USD 27.97 billion while imports declined to USD 9.53 billion. Export volumes have risen significantly from 9.3 million tonnes in 2020 to 23.97 million tonnes in 2025, while imports fell to 14.8 million tonnes. These trends underline Indonesia’s growing competitiveness in the global steel market, supported by downstreaming policies, stronger production capacity, and favorable global dynamics.
Source:
https://jatim.antaranews.com/berita/1031302/indonesia-hits-top-five-in-iron-and-steel-exports-via-downstreaming