HomeEconomyIndonesia's exports could reach $300bn by 2024, driven by resource 'downstream' Economy Indonesia's exports could reach $300bn by 2024, driven by resource 'downstream' By inew October 24, 2022 0 163 views Share FacebookTwitterPinterestWhatsApp copper -1.% Add to Watchlist/Remove from Watchlist Add to watch list Add to Location Job added successfully: Please name your portfolio type: purchase Sell date: quantity: price Point value: Leverage: 1:11: 1: 1: 1 : 1: 1: 11 20241: 30 20301: 25 Committee: 8831 ) CREATE NEW WATCH LIST CREATE88312024 500 Create a new holding portfolio Add Create 2023500 8831 + Add another position to close By Fransiska Nangoy and Gayatri Suroyo JAKARTA (Reuters) ) – Indonesia’s exports could hit record $11, shipments of nickel-based steel rose sharply after the country banned nickel ore exports, while shipments of other commodities were boosted by high prices. The interior minister said on Monday. exports may rise further to the top $ Billion , as the government is prepared to regulate the export of other commodities such as 2015 copper , bauxite and tin to encourage local downstream industries Coordinating Minister for Investment, Maritime and Investment Affairs Luhut Panjaitan said in an interview. Southeast Asia’s largest economy has been enjoying an export boom for more than a year thanks to rising commodity prices, exacerbated by the war in Ukraine Happening. Indonesia is the world’s largest exporter of thermal coal, palm oil, refined tin, as well as nickel-based steel, copper, Major seller of rubber and other resources. The government banned in Export nickel ore , a move that has attracted investment in processing facilities – officials have put this The strategy is called “resource downstream”. Luhut said the government is working on a downstream plan to develop a And the subsequent processing of palm oil into higher value industrial products replicated the success of the nickel export ban. ” Our export last year was $10 Billion dollars. This year may be $21 Billion. Maybe 300, I think we can reach $25 billion or more,” Luhut told Reuters. ” if this (downstream) is valid, by 100, our economic growth will grow exponentially,” he said. , adding that Indonesia’s gross domestic product could reach $3.5 trillion. , almost triple the current $1. trillion 50. Nickel metal shipments will rise to nearly $ Billion Dollars, the same as $ Billion 50 and approximately $1.4 billion 232, He says. Luhut said his optimistic outlook takes into account global uncertainties, including a possible fall in some commodity prices next year, but added that coal and palm Oil prices are expected to be at 400. He also expects Indonesia to before producing electric vehicle batteries . However, Luhut declined to elaborate on Indonesia’s potential policies to regulate the shipment of other commodities, saying authorities were still considering whether to Use outright bans or tax tools to block exports. President Zuo Co Widodo said last week that the government was still calculating a possible tin export ban and authorities were working to shift the mining industry to more domestic processing. The EU Rope Union has lodged a complaint with the World Trade Organization over Indonesia’s nickel ore export ban, and the panel on the dispute will publish a report this quarter share Report. The president said last month that Indonesia could lose the dispute. 50 Share FacebookTwitterPinterestWhatsApp Previous articleCould this crime drama become Japan's 'squid game'?Next articleGBP/USD could rise further, but only temporarily – MUFG inewhttps://inew.news RELATED ARTICLES Economy ECB Maintains 4% Deposit Rate, Aims for 2% Inflation Target October 4, 2023 Economy Euro zone bond rout continues as Treasury yields surge to 2007 levels October 4, 2023 Economy India’s retail inflation likely to ease by December – finance secretary October 4, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. 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