Exports And Imports Predicted To Rise But Temporary Impact Of Palestine-Israeli Conflict Heats Up

Photo export illustration: (doc. intermediate)

JAKARTA - The Central Statistics Agency (BPS) recorded that Indonesia's export value in September 2023 was recorded at US$20.76 billion, down 5.63 percent compared to August 2023 and weakened 16.17 percent compared to September 2022.

Meanwhile, the import value was recorded at 17.34 billion US dollars, down 8.15 percent on a monthly basis or down 12.45 percent on an annual basis.

Deputy Director of the Institute for Development of Economics and Finance (Indef) Eko Listiyanto said the cause of the decline in the value of coal and palm oil was due to declining global demand and the world economy was slowing down followed by declining international prices.

Eko estimates that in the future the value of exports will again increase accelerated, but it will still be difficult to increase fundamentally.

"The possibility of a fundamental acceleration increase is still difficult, even if it rises, it will be temporary because of the continuing issue of the Israel-Palestinian war," he explained to VOI, Tuesday, October 17.

According to Eko, the value of exports towards the end of the year may not increase much, because the global economy is still in a slowing situation, because inflation in developed countries is still high.

With the latest war issues in the Middle East between Hamas and Israel, he added, the business world in developed countries is refraining from increasing production.

On the other hand, Eko also sees an increase in the value of imports in the future because before Christmas and the end of the year, as well as a campaign period where normally demand for products in Indonesia increases at the end of the year.