Indonesia targets nickel export revenue of at least US$45 billion by 2026, up from over US$40 billion in 2025. The surge follows a raw ore export ban and aggressive downstream industrialization policy. Nickel exports rose from US$3.3 billion in 2017–2018 to US$34 billion in 2023. A national master plan envisions US$618 billion in downstream investment by 2040 across minerals, energy, forestry, fisheries, and agriculture. Coordinating Minister Bahlil Lahadalia called downstreaming 'the key to increasing added value and strengthening national economic independence.'
According to idnfinancials.com, the Indonesian government aims to achieve nickel export revenue of at least US$45 billion in 2026, following export earnings exceeding US$40 billion in 2025.
Nickel Export Growth Trajectory
Nickel export value surged from approximately US$3.3 billion during 2017–2018 to US$34 billion in 2023, then surpassed US$40 billion in 2025. This growth follows the government’s ban on raw nickel ore exports, which catalyzed domestic downstream processing. Coordinating Minister for Downstreaming and Energy Transition and Minister of Energy and Mineral Resources Bahlil Lahadalia highlighted this trend while representing President Prabowo Subianto at the opening of Trade Expo Indonesia (TEI) 41 in Tangerang on October 14, 2025.
Hilirisasi as National Economic Strategy
Bahlil Lahadalia emphasized that downstream industrialization—locally termed hilirisasi—is central to enhancing the added value of Indonesia’s natural resources and strengthening national economic independence.
“Downstream industrialization is the key to increasing the added value of Indonesia’s natural resources while simultaneously strengthening national economic independence.” — Bahlil Lahadalia, Coordinating Minister for Downstreaming and Energy Transition and Minister of Energy and Mineral Resources
The policy seeks not only to replace raw-material exports with higher-value processed goods but also to expand supporting industries, increase participation by domestic entrepreneurs, strengthen technological mastery, and generate employment.
Long-Term Investment Roadmap to 2040
A national downstreaming master plan extending to 2040 sets a total investment target of US$618 billion, covering mineral and coal processing, oil and gas, forestry, fisheries, and agriculture.
“I want to state that our master plan for downstream industrialization through 2040 targets US$618 billion.” — Bahlil Lahadalia
This investment framework underpins Indonesia’s broader objective to deepen its industrial base and raise the contribution of resource processing to national GDP. Officials expect enhanced domestic processing capacity to solidify Indonesia’s role in global supply chains and maximize domestic economic benefits from its natural resource endowment.
Source: idnfinancials.com
Compiled from international media by the SCI.AI editorial team.
