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Reuters
Indonesia exports could hit $300 billion by 2024, spurred by resource ‘downstreaming’
Indonesia’s exports could hit a record $280 billion this year, with nickel-based steel shipments rising sharply after the country banned nickel ore exports, while shipments of other commodities got a boost from high prices, a senior minister said on Monday. Exports could rise further to top $300 billion by 2024 as the government prepares to regulate exports of other commodities, such as copper, bauxite and tin, to encourage investment in local downstream industries, Coordinating Minister of Maritime and Investment Affairs, Luhut Pandjaitan, said in an interview. Southeast Asia’s largest economy has been enjoying an export boom for more than a year due to rising commodity prices, which has been exacerbated by the war in Ukraine.
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