Key Market Indicators
**Indonesian Nickel Import Forecast to Reach $173 Million by 2028** Indonesia's nickel import market is projected to grow significantly, reaching approximately $173 million by 2028. This marks an increase from about $140 million in 2023, with an average annual growth rate of 3.3%. Since 1994, the country's demand for nickel has seen a steady rise, averaging a 1.5% year-on-year increase. **Nickel Export to Decline to $616 Million by 2028** Conversely, Indonesia's nickel exports are expected to decline. By 2028, exports are forecasted to drop to around $616 million, down from roughly $678 million in 2023. The average annual decrease rate stands at 1.5%. Historical data since 1994 reveals a consistent annual decline in supply by 3%. **Global Positioning and Competition** In 2023, Indonesia ranked 11th in the global nickel export market. The Netherlands surpassed Indonesia with exports valued at around $678 million. Leading the market, Canada, Russia, and Malaysia occupied the second, third, and fourth positions, respectively.
