Indonesia is the 12th largest economy in Asia and 15th in the world. Indonesia has a GDP of $1.042 trillion.
The largest industries of Indonesia are:
Given the economic growth of Indonesia, it is an attractive country for steel trade. Indonesia’s steel industry is diverse and includes steel mainly for construction. Construction in Indonesia contributes to about 11.5% of GDP and is the third largest contributor to Indonesia’s economy. In addition, Indonesia is the second most productive and profitable construction market in Asia.
Indonesia consumes over 13 million tons of steel every year, but the country is not able to produce such high demand, so they really heavily on importing about half of their steel from other countries.
For the purpose of pricing, Indonesia’s local companies typically prefer to import their steel products. The demand for steel in Indonesia is predicted to rise about 50% in the next 3 years for construction. Currently, 78% of Indonesia’s steel purchases are used in the construction sector. Camasteel has supplied materials for the use of construction to many companies.
Indonesia has a growing automotive industry and they require much imported steel as it keeps growing. Currently, 8% of Indonesia’s steel is used in the automotive industry, which is the second highest, behind construction. The use of steel in manufacturing automobiles allows for more safety and strength of the automobile.
ndonesia is accessible by both land and sea.
For international trading, the main sea ports are:
For importing the good, Camasteel uses the largest port of Tanjung Priok.
According to the latest trade data, Indonesia imports
They include steel such as:
Steel alloy importers need to have a license as an Importer Manufacturer or Registered Importer from the Trade Ministry. There is also a requirement of verification. Some of the affected steel products may include:
1. Availability - Indonesia is the world’s 10th largest steel importer. They import more than 11.6 million tons of steel each year and they are usually in high demand.
2. Steel Cost – Indonesia spends over $10 billion last year in steel import consumption. They tend to import steel because of the competitive prices.
3. Steel Quality – Indonesia is taking better precaution in purchasing high-quality steel.
If you’re looking to buy small amounts of steel, there are local options more available for convenience. However, if you are looking to import in bulk and achieve cost savings, Camasteel has been exporting steel to clients in Indonesia. Feel free to contact us at [email protected] or WhatsApp us at +86-131-2037-9271 for a FREE quotation.