Bisnis, JAKARTA – The government is increasingly ambitious to establish nickel downstreaming as a cornerstone of the future economy, with potential export values of derivative products expected to reach IDR 1,100 trillion by 2030.
Following the cessation of nickel ore exports in 2020, domestic nickel players have turned to downstream nickel products as their sole export avenue. This shift has significantly bolstered the export performance of these products.
The export performance of nickel and its derivatives surged dramatically. In 2021, nickel exports amounted to $1.27 billion, and this figure soared to $5.93 billion in 2022.
The upward trend continued, with the export value of nickel products reaching $34 billion (around IDR 543 trillion) in 2023. The government remains unsatisfied with these achievements and projects that nickel exports could reach $70 billion per year in the coming years.