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Steel Imports Report: Indonesia
Background
Indonesia is the world’s tenth-largest steel importer(2017 ranking). In 2018, Indonesia imported 11.6 million metric tons of steel, a 1 percent increase from 11.4 million metric tons in 2017. Indonesia’s imports represented 3 percent of all steel imported globally in 2017. Indonesia’s 2018 steel imports were a bit more than one third the size of the largest steel importer, the United States. In value terms, steel represented just 5.0 percent of the total amount of goods imported into Indonesia in 2018.
Indonesia imports steel from over 85 countries and territories. The ten countries highlighted in the map below represent the top import sources for Indonesia’s imports of steel, with each sending more than 300 thousand metric tons and together accounting for 86 percent of Indonesia’s steel imports in 2018.
Indonesia has consistently been a net importer of steel mill products. Since 2009, Indonesia’s steel imports have trended upwards. Between 2009 and 2018, steel imports increased 105 percent, while exports increased 256 percent. Indonesia’s steel trade deficit grew between 2009 and 2013, peaking at -11.6 million metric tons in 2013. Since 2013, Indonesia’s trade deficit has declined modestly due to large increases in exports. Between 2017 and 2018 Indonesia’s trade deficit shrank 14 percent from -9.0 million metric tons in 2017 to -7.8 million metric tons in 2018.
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