Indonesia’s Ministry of Trade has established an ambitious export expansion goal, targeting growth rates reaching 7.1 percent up to 9.6 percent over the upcoming five-year period.
Head of the ministry’s Trade Policy Agency Fajarini Puntodewi stated that the target is part of the ministry’s efforts to support President Prabowo Subianto’s broader vision of achieving economic growth of eight percent.
“For next year, we are targeting 7.1 percent. Thus, it supports economic growth of five percent until eight percent at the end of the period in 2029, with an export target of 9.6 percent,” she remarked at the Gambir Trade Talk event here on Tuesday.
Although the target is big, Puntodewi expressed optimism that the target would be achieved, given that Indonesia’s exports have continued to grow.
Data from the Ministry of Trade noted that Indonesia’s export value for the January-September 2024 period reached USD192.85 billion, up 0.32 percent compared to the previous year.
Meanwhile, Indonesia’s trade balance in September 2024 experienced a surplus of USD3.26 billion. This figure is higher than the surplus of USD2.78 billion in August 2024.
The trade surplus extended the surplus trend to 53 consecutive months since May 2020.
“To this end, we are optimistic. We are optimistic that at the end of 2024, we can achieve another trade surplus and an increase in exports,” she remarked.
The Ministry of Trade will utilise trade contracts agreed upon with several partners to achieve this target.
According to Puntodewi, Indonesia’s export trend is increasing with countries with which it has free trade agreements.
In addition, the Ministry of Trade is seeking to conduct market diversification to expand the market share of Indonesian products globally.
Source from ANTARA
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