The import of iron and steel to Indonesia is forecasted to grow consistently over the next five years. With values projected to rise from 11.494 billion USD in 2024 to 12.802 billion USD in 2028, this represents a steady increase. Specifically, the year-on-year growth rate is approximately 2.93% from 2024 to 2025, 2.79% from 2025 to 2026, 2.66% from 2026 to 2027, and 2.54% from 2027 to 2028. The compound annual growth rate (CAGR) over this period is about 2.73%.
In 2023, the import stood at 11.179 billion USD, providing a baseline for assessing future growth.
Future trends to watch for include global market fluctuations affecting raw material costs, Indonesia’s domestic steel production capacity expansion, and trade policies impacting import regulations. These factors will play a significant role in shaping the import landscape.