Steel export down 9%

The country?s export value of steel products in the first semester of this year declined by 9 percent year-on-year amid weak global economic condition, the Central Statistics Agency (BPS) said as reported by Kontan on Monday.

According to the BPS data, export of steel products in the first six months of this year fell to US$835.6 million from $918.6 million in the corresponding period of last year.

The export value in June alone dropped by 52 percent to $92.1 million from the level in May, the paper said.

IDX-listed steel maker PT Gunawan Dianjaya Steel Tbk initially set export to account for 20 percent of total sales value, but realize export in the first semester was much lower, accounting for only 6-7 percent, Director and Corporate Secretary Hadi Sutjipto said as quoted by Kontan.

He said that the company only exported to Malaysia and Singapore, and no longer exporting to Taiwan, Mexico and Europe due to the import duties applied by the countries. Last year, Europe accounted for 44 percent of the company?s total export. (*)