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Exports and imports could provide relatively strong support for economic growth in 2022, the head of the Trade Assessment and Development Agency at the Ministry of Trade, Kasan, has said.
“Exports and imports are expected to be a strong enough support for economic growth next year, apart from household consumption,” he remarked at a webinar on Wednesday.
The Indonesian government has set an economic growth target of 5 percent–5.5 percent for 2022, supported by 5–5.3 percent growth in household consumption, 5.8–7.9 percent growth in exports, and 6–8.6 percent growth in imports, he noted.
In addition, government consumption is projected to grow by 2.8–4.5 percent, while investment is forecast to grow 5.6–7 percent, he said.
Meanwhile, the Ministry of Trade is designing an outlook for strategic trade indicators for 2022, including the goods trade balance, which is expected to reach US$19.1 billion–19.6 billion, Kasan said.
Real exports of goods and services are estimated to grow by 4.16 percent, non-oil exports are estimated to grow 5.40–5.79 percent, while the ratio of exports of services to GDP is predicted to be 1.5 percent, he added.
According to Kasan, the economic situation in 2022 will be influenced by various factors, including the country’s successful handling of COVID-19, recovery of public consumption, implementation of structural reforms, and prospects for global economic growth.
Policies for handling COVID-19 that are being carried out comprehensively and massively through the implementation of public activity restrictions (PPKM), accompanied by acceleration of vaccinations and dissemination of health protocols, are expected to increase people’s confidence in carrying out socio-economic activities, he said.