Export Ban Effect: Indonesia's Export of Nickel Derived Products Soars

By Editorial Team 19/09/2022
Summary

The ban on nickel ore exports, which took effect in early 2020, has borne fruits. The export of nickel-derivative products has increased significantly since the government implemented this policy. This can be seen from the values during January-August 2022, which reached US$12.35 billion, soaring 263 percent from US$3.40 billion in the same period in 2019, before the ban on nickel ore exports applied.

"Six years ago, our exports of nickel were only US$1.1 billion. Meanwhile, in 2021, it reached US$20.9 billion. This means the added value jumped to 19 times," Industry Minister Agus Gumiwang Kartasasmita said on Sunday. Therefore, the government continues to spur the development of the smelter industry, which is proven to provide a broad multiplier effect on the national economy.

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