On November 6, Indonesia said it had informed China of the latest situation of Indonesia's import and export, and hoped that China would allow Indonesia's steel products to be exported to China in the form of "zero charge".
Data shows that in January to September this year, Indonesia's steel exports reached 5.35 billion US dollars (about 37.5 billion yuan), an increase of 28.86% year on year. However, due to the high import threshold set by the Chinese market for Indonesian steel products, Indonesia's steel exports, although growing, have been unable to expand the scale of exports to China.
According to data released by the world bank, Indonesia attracted only 1.9% of GDP last year, far less than 6.3% of Vietnam and 2.6% of Thailand. Indonesia is the most populous country in Southeast Asia, and has abundant labor resources (73% of the total population). Therefore, the result of 1.9% is unqualified for Indonesia.
