Indonesia export grow 29,4%

Indonesia’s 2022 Exports Grow 29.4 Percent, Says Economy Minister

Indonesia’s export in 2022 spruced a growth of 29.4 percent worth US$268 billion (Rp4,144 trillion) which was contributed by exports of commodities of steel, fossil fuel, and crude palm oil or CPO. 

“Coal can compensate for imports rather than oil. This is positive for the energy sector by nearly US$6.8 billion year to date. Meanwhile, iron and steel generated US$29 billion, and CPO is around US$30 billion. Of course, this shows that Indonesia’s exports are relatively strong,” said Airlangga Hartarto, Coordinating Minister for Economic Affairs on January 11. 

The government projects that 2023 will see positive export growth despite slowing down compared to 2022. Airlangga announced that Indonesia is projecting export value to grow by 12.8 percent and import value to reach 14.9 percent growth. 

According to Airlangga, President Jokowi gave directions to state ministers in a limited meeting to increase foreign exchange reserves amidst the positive export growth. 

The President also requested that Government Regulation No.1/2019 concerning Export Proceeds from Exploitation, Management, and/or Processing of Natural Resources be improved.

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