Tin exports drops by 16.7 percent in August

Indonesia?s monthly tin exports fell in August compared to the previous month both in term of volume and value due to the low in the demand from major tin buyers in the world.

The volume of the tin exports during the month dropped by 16.7 percent to 8,231.49 tons of worth US$167.11 million in August compared to 9,883 tons of worth $220.62 million in July, the director for exports of mineral products at the ministry of trade Hartojo Agus Tjahjono said in Jakarta on Monday

According to the ministry?s data, the value of the country?s tin exports reached a total of $1.25 billion during, the January to August period, exceeding the total tin export receipts of about $1 billion recorded in 2007.

?The increase in the foreign exchange receipts from tin exports in the first eight months was higher thanks to an increase in tin prices,? he said. (*)