Indonesia has steel export value of $924.6 million in Aug
Time:Wed, 25 Sep 2024 09:26:31 +0800
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According to statistics from Statistics Indonesia (BPS), Indonesia had a trade surplus of US$2.9 billion in August, higher than the US$470 million surplus in July, showing increased exports and slowed imports.
In August, Indonesia’s export value reached US$23.56 billion, up by 5.97% compared to the previous month. Among them, the export value of metal ores, slag, and ash was US$1.14 billion, and that of steel was US$924.6 million.
The Indonesian government has actively promoted the adjustment of the industrial structure in recent years, encouraging the investment of downstream processing industries to raise the added value of export products. For instance, the policy to restrict the export of primary raw materials and encourage the domestic process of nickel ore could increase foreign exchange earnings and promote the development of domestic industries.
