The government's policy in the form of a ban on nickel ore exports in 2020 had a positive impact on the implementation of the downstreaming program that has been planned for the past few years.

The Coordinating Minister for Economic Affairs, Airlangga Hartarto, said that this policy was able to increase exports of nickel downstream commodities to reach USD 14.53 billion by 2022.

"With this achievement, the total trade balance of upstream, intermediate, and downstream nickel commodities in 2022 also experienced a surplus of USD 13.76 billion," said Airlangga at the Indonesia Mining Summit (IMS) 2023 in Nusa Dua Bali on Tuesday (10/10/2023), virtually.

Airlangga mentioned that the nickel downstreaming policy also succeeded in nurturing the stainless steel industry ecosystem, with the potential added value from nickel ore to ferronickel and stainless steel billets increasing by 14 to 19 times.

In this regard, the government will continue to encourage the use of technology for the downstreaming of mineral and metal-based commodities such as bauxite, tin, copper, and nickel. From this program, the investment value in Indonesia's downstreaming roadmap is predicted to reach USD 545.3 billion.

Entering late 2023, Airlangga stated that Indonesia's national economic fundamentals continue to strengthen, with Gross Domestic Product (GDP) for the second quarter of 2023 at 5.17 percent.

One of the pillars of this growth is the processing industry sector, which was recorded to be able to grow 4.88 percent year on year with a contribution of 18.25 percent to GDP.

For information, in 2022, the realization of non-tax state revenue in the non-oil and gas natural resources (SDA) sector reached IDR 120.1 trillion or grew 127.2 percent compared to the previous year which was only IDR 52.9 trillion.

Image source: Antam

Source: www.indopos.co.id/Ekspor Hilirisasi Nikel Meningkat Capaian 2022 Tembus USD 1453 Miliar