Indonesia's steel imports fell nearly 13 percent in May

The latest data released by the Indonesian Central Bureau of Statistics (BTS) reports a significant decline in the country's steel imports during the month of May this year. A similar drop in imports was observed in monetary terms generated by imports of iron and steel.

Indonesia's steel imports were worth $ 681 million in May 2014, down 12.63 percent from steel imports in the same month a year earlier, according to BTS. The country's steel imports reached in May 2013 amounted to $ 780 million.

Total steel imports during the first five months of this year fell significantly compared to the previous year. The aggregate value of steel imports from January to May this year was $ 3,540 million, down 23.64 percent from imports during the corresponding five-month period last year.

A decrease of 11.61 percent was recorded in the value of imports of iron ore during the month of May of this year. During the month, the value of imports of iron ore amounted to $ 324 million. The values ​​generated by imports of iron and steel products in the first five months of this year have dropped significantly. The aggregate value of imports was $ 1.74 billion, down 22.08 percent from the value for imports in January-May of the previous year.