Indonesia’s Export Ban Will Boost Growth

Indonesia’s mineral ore export ban, imposed on Sunday, shouldn’t worsen the nation’s already worryingly high current account deficit, analysts told CNBC.

The long-awaited ban, which policymakers hope will boost profits from its mineral sector by forcing miners to process their ore at home before export, was announced by President Susilo Babang Yudhoyono on Sunday.

The ban specifically targeted the nickel and bauxite industries – worth more than $2 billion in annual shipments – as last minute changes excluded exports of copper, iron ore, lead and zinc concentrates, providing reprieve for U.S. mining giants Freeport and Newmont which produce 97 percent of Indonesia’s copper.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu