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Metal industry grew rapidly in the second quarter

18 August 2022 11:27

JAKARTA - The development of the metal and steel industry in the country continues to increase in line with the improvement in the national economy after the Covid-19 pandemic. In the second quarter of 2022, the performance of the base metal industry grew by 15.79%, a significant increase compared to the first quarter of 2022 which reached 7.90%.

"The growth of the basic metal industry sector is far above the growth of the manufacturing sector, which was recorded at 4.01%, even higher than the economic growth of 5.44%," said Director of Metal Industry at the Ministry of Industry, Liliek Widodo in Jakarta, Thursday (18/8).

"The positive impact of this policy is the high annual growth in the base metal industry over the last two years, namely 11.46% in 2020 and 11.31% in 2021," she said.

In fact, the iron and steel trade balance has experienced a surplus since 2020. In the first semester of 2022, the steel trade balance experienced a surplus of 107 thousand tons or worth USD 6.6 billion. "Import control is carried out with a smart supply-demand mechanism so that imports can always be on target," said Liliek.

Furthermore, from a macroeconomic perspective, the GDP role of the base metal industry in the second quarter of 2022 was 0.84% ​​of the total national GDP, or an increase of 0.01% from the first quarter of 2022 of 0.83%. "This is supported by high investment realization in the metal industry sector, which amounted to IDR 48.2 trillion, an increase of 21.50% compared to the first quarter of 2022 which was Rp. 39.67 trillion," she added. (LM)

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