Friday, June 14, 2024

Krakatau Steel export 30,000 tons of steel to Italy, records highest surplus in Indonesia’s history

Reading Time: < 1 minute
Journalist IBP


Mahinda Arkyasa



The largest state-owned steel company in Indonesia, PT Krakatau Steel (Persero) Tbk, successfully exported 30,000 tons of Indonesian steel to the Italian market. Steel commodity is currently the third largest export commodity in Indonesia.

“Nationally, the steel industry is the third largest contributor to exports from Indonesia, number one is coal, and number two is palm oil,” said Zulkifli Hasan, Indonesian Minister of Trade on April 28, 2023.

In 2022, Indonesia experienced the highest steel export surplus in Indonesian history with an export value of IDR 900 trillion.

“We are grateful to these red and white fighters who were able to increase the value of iron and steel exports so that our surplus yesterday was the highest in the history of total exports in Indonesia, which reached nearly IDR 900 trillion or the equivalent of US$ 54 billion,” said Hasan.

Purwono Widodo, Director of PT Krakatau Steel (Persero) Tbk said that the products exported by Krakatau Steel were hot rolled coil (HRC). Through these HRC exports, the company has contributed IDR 315 billion in foreign exchange.

“With this export shipment to Italy, Krakatau Steel contributes IDR 315 billion to the country’s foreign exchange or the equivalent of US$ 21.15 million,” he said.

Based on records from 2022 to April 2023, Krakatau Steel has exported a total of 393,503 tons of steel in 2022. Meanwhile, since April 2023 the company has exported 80,802.78 tons to destination countries including Italy, Portugal, Germany, Turkey, Greece, Spain and Pakistan.

“This is proof that domestic steel products can compete well even in developed countries in Europe. We will continue to improve the quality of our products so that more Krakatau Steel Group steel products will be absorbed for both domestic and export steel needs.” said Widodo.

Journalist IBP


Mahinda Arkyasa




We will provide you with an invoice for your reimbursable expenses.


New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.


$550 USD/Year


$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.


PT Perusahaan Listrik Negara (PLN), Indonesia’s state-owned electricity company, has announced plans to construct three new wind power plants (PLTB) − PLTB Timor, PLTB Tanah Laut, and PLTB Sulbagsel − by 2027 with a combined capacity of 152 MW.
Bali will introduce a Light Rail Transit (LRT) system following the completion of the feasibility study for the project. The initial phase of the LRT will feature a track stretching from Ngurah Rai Airport to the Sunset Road area.
SKK Migas reveals that China has expressed interest in utilizing Enhanced Oil Recovery (EOR) technology to rejuvenate Indonesia’s aging oil fields, potentially boosting production and reserves significantly.
Minister Sakti Wahyu Trenggono, says Indonesia’s vast marine biodiversity remains largely unmapped and underexplored, missing out on significant opportunities for marine biopharmacology.
President Jokowi announced a major boost in foreign investment for the Nusantara Capital City (IKN), following his recent visit to oversee groundbreaking projects and inaugurate key infrastructure in the country’s new capital city.
A number of MoU with a total investment of Rp862 billion (US$53 million) were signed at the 2024 International Tourism Investment Forum (ITIF) regarding a number of tourism infrastructure projects with a number of companies.