Sri Mulyani: Performance In The Indonesian Economy Supported By High-Growing Exports

JAKARTA - The government through the Minister of Finance (Menkeu) Sri Mulyani stated that Indonesia's economic performance in the fourth quarter of 2022 was increasingly showing strengthening.

According to the Minister of Finance, the current recovery continues to be on the right track with economic growth above 5 percent in the last four quarters.

"Indonesia's economic performance is supported by one of external factors, namely the trade balance where our exports continue to experience very high growth," he said at a press conference on our State Budget on Thursday, November 24.

The Minister of Finance explained that exports in October 2022 posted 24.8 billion US dollars, an increase of 12.3 percent year on year (yoy).

Meanwhile, if calculated this year or year to date (ytd) exports grew 30.9 percent. Then monthly (month to month/mtm) it rose 0.1 percent.

At the same time imports posted 19.1 billion US dollars or grew 17.44 yoy and 27.7 percent ytd, but decreased by 3.4 percent on a mtm basis.

Thus, continued the state treasurer, until October 2022 Indonesia posted a trade balance sheet of a surplus of 5.7 billion US dollars. He said, the surplus trend continued until entering the 30th month.

Export minus positive imports means to our growth is a positive contribution. This surplus from the trade balance has reached a cumulative 45.5 billion US dollars, January to October. This is higher, much higher than last year's 30.9 billion US dollars," he said.

The Minister of Finance also said that the current situation provides its own support for the resilience of the Indonesian economy, which is facing global uncertainty.

"The government remains optimistic but vigilant, because in the future the interest rate of developed countries will increase and can cause pressure on capital flow," closed the Minister of Finance Sri Mulyani.