Exports` Contribution to Trade Surplus Inadequate

Translator

Editor

Jumat, 16 Oktober 2015 07:10 WIB

TEMPO.CO, Jakarta - Coordinating Minister for Economic Affairs Darmin Nasution said trade surplus so far would be more ideal if it was supported by more adequate export performance.


"So far exports have dropped but imports have dropped even lower creating a surplus. This is a good news but is not enough. It will be enough if surplus happens because exports rise," he said on Thursday.


Darmin said export performance was not yet optimal because exports so far have been based more on natural resources while prices of the commodities in the international markets have sharply declined.


National exports have weakened because demand in the export destination countries is down making the countrys economic growth in the first semester this year reached only 4.7 percent, he said.


In view of that the government is now seeking to diversify exports in terms of products and export destinations so that Indonesia will nolonger be dependent on crude palm oil, rubber or coal exports which are vulnerable to global conditions, he said.


One of the initiatives is deregulating licensing procedures and export financing assistance by LPEI which is included in the economic policy packages issued recently to make small industries to revive again to boost national economy, he explained.


"In our deregulation this time we do not only simplify licensing procedures but also encouraging investment in the industrial sector as well as helping in the export financing especially for micro, small and medium industries as they what we have," he said.


He said various kinds of products have started to be developed by manufacturing sector such as food products, jewelry, footwear, gem stones so that exports will not rely much on natural resources.


According to National Statistics Agency Indonesia enjoyed a surplus of $1.02 billion in September 2015 and trade from January to September has always been in surplus for the country.


"Indeed trade was in surplus since January to September although export-import performance tended to drop early in the year," the agency`s chief, Suryamin, said.


From January to September 2015 Indonesia enjoyed a surplus of US$7.13 billion up from a deficit of US$1.67 billion in the same period last year.



ANTARA




Related News

BI Urges Export, Import Actors to Use Local Currencies in Transacting

14 Oktober 2022

BI Urges Export, Import Actors to Use Local Currencies in Transacting

Bank Indonesia or BI encourages export-import actors to make more use of Local Currency Settlement (LCS).

Read More

Tanah Abang Logistics 'Crippled' by Rally

23 Mei 2019

Tanah Abang Logistics 'Crippled' by Rally

The flow of goods through the Tanjung Priok Port is feared to decline as logistics activities around Tanah Abang are crippled.

Read More

East Nusa Tenggara Exports 24 tons Octopus to China

22 Februari 2019

East Nusa Tenggara Exports 24 tons Octopus to China

Octopus exports from East Nusa Tenggara Province to China reached 24 tons in January 2019.

Read More

Sri Lanka Halts Imports of Johnson & Johnson Talc over Asbestos

31 Januari 2019

Sri Lanka Halts Imports of Johnson & Johnson Talc over Asbestos

Sri Lanka has halted imports of Johnson & Johnson Baby Powder until the company proves its product is free from cancer-causing asbestos.

Read More

Gov't: We Reversed Corn Import Dependency into Export

16 Januari 2019

Gov't: We Reversed Corn Import Dependency into Export

Indonesia is able to free itself from corn import dependency to the current export of 372,000 tons in 2018.

Read More

Freeport Concentrate Export Drops as Production Drops

10 Januari 2019

Freeport Concentrate Export Drops as Production Drops

Freeport Indonesia's copper concentrate export is expected to free fall following the drop in production this year.

Read More

Susi: Transportation Will Improve Indonesian Fishery Export  

14 Desember 2018

Susi: Transportation Will Improve Indonesian Fishery Export  

Maritime Affairs and Fisheries Minister Susi Pudjiastuti hailed
fisheries transportation as the main key in increasing
Indonesia`s revenue.

Read More

Chinese Horticultural Products Expected to Flood Domestic Market

19 Oktober 2018

Chinese Horticultural Products Expected to Flood Domestic Market

Indonesia and China have signed a Mutual Recognition Agreement,
allowing China to use Tanjung Priok as a gateway to export their
horticultural product

Read More

Reassessing Our Import Policy

19 Oktober 2018

Reassessing Our Import Policy

Reports on the beef import graft shows that consumers are saddled with sky-high
meat prices while local farmers are left with just a small price gain.

Read More

Logistics Agency Asks Govt to Separate Ports

19 Oktober 2018

Logistics Agency Asks Govt to Separate Ports

Officials suggest the government to separate export and import
ports to solve the ongoing dwelling time problem.

Read More