Pretty much as predicted, iron and steel (HS 72) was the best performing sector for Indonesia’s external trade in 2020. While export jumped by 47% to US$10.85 billion, import collapsed 34% to US$6.86 billion, resulting in trade surplus of nearly US$4 billion last year. In December alone, trade surplus in HS 72 reached US$478 million, thanks to higher average price of metals. To subscribe please click here