Indonesia exports could hit record $280 bln this year

Indonesia’s exports could reach a record $280 billion this year, with iron 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 set out plans to regulate exports of other commodities, such as copper, bauxite and tin, to encourage investment in downstream industries at home, Coordinating Minister of Maritime and Investment Affairs, Luhut Pandjaitan, said in an interview.