Francisca Christy Rosana (Antara) Jakarta – Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said he believed Indonesia would be the world's largest stainless steel exporter by the year 2021 following the country's constant growth of stainless steel exports.
"Our stainless steel exports have reached USD5.8 billion annually," he said in the 62nd Indonesian Archipelago Insight Day at the National Library in Central Jakarta today.
Luhut did not detail the export target in 2019, yet assured the amount would be higher from year's.
The Central Statistics Agency (BPS) recorded that Indonesia's first quarter steel exports spiked by 30.96 percent compared to the same period last year. The agency's data suggested that Indonesia's iron and steel export had contributed 11.54 percent to the country's exports.
The Industry Ministry previously recorded iron and steel exports grew from 302,919 tons in 2017 to 459,502 tons in 2018 (January-September), while exports of HRC stainless steel rose from 324,108 tons to 877,990 tons during the same period.