How important is the mineral product exports?

According to the Department of Trade and Industry, mineral products are key exports under the Philippine Export Development Plan. The government seeks to support key exports while strengthening trade relations with other states under the aforementioned plan. Therefore, the Philippine Statistics Authority reports that as of September 2017, exports of mineral products such as gold, nickel, and copper continue to grow in sales. However, despite the contribution of the mineral products in the Philippine economy, there has been an effort to impose a ban on nickel export in order to revive the iron and steel industry. This action taken by the government can be compared to the on-going export ban of nickel in Indonesia. Indonesia banned exports of unprocessed metal ores in 2014 in order to revive iron and steel products that would develop the country’s smelting industry that would also create more employment opportunities. However, the effect of this is still an on-going study.

The post How important is the mineral product exports? appeared first on interaksyonph.