Sri Mulyani Praises Export Performance For Non-Oil And Gas Dominance: Indonesian Products Are Capable Of Penetrating The World

JAKARTA - Minister of Finance Sri Mulyani said that Indonesia's export performance which is dominated by the non-oil and gas sector is proof that domestic products have a superior quality that can compete in foreign markets.

"The export value, which is mostly non-oil and gas, is very good, meaning we have competitiveness and Indonesian products can compete", she said in the 500K New Exporters webinar, Tuesday, April 20.

Minister of Finance Sri Mulyani added that this fact is a great asset for this nation to be able to achieve economic success without having to depend on the availability of non-renewable natural resources (SDA) such as oil and gas.

"We can build products that penetrate the world market, of course, this is an achievement supported by the national export ecosystem", she said.

To note, last week the Central Statistics Agency (BPS) released the development of Indonesian exports until the first quarter of 2021. It was stated that the export value in the first three months of this year reached $48.9 billion.

Of this amount, the non-oil and gas sector became the main supporter with a contribution of 94.5 percent or the equivalent of $46.2 billion.

The largest share was contributed by exports of vegetable/animal fats and oils with a value of $6.9 billion, or the equivalent of 15 percent. Followed by mineral fuel exports with $5.9 billion or 12.7 percent.

When compared with total exports in the first quarter of 2020 which amounted to $41.7 billion, there has been a growth of 17.11 percent this year.

Meanwhile, from the import side, it was recorded at $43.38 billion, or an increase of 10.76 percent compared to the same period in 2020 which amounted to $39.17 billion.

Thus, if a comparison is made between export and import realization in the first quarter of 2021, Indonesia will record a trade balance surplus of $5.52 billion.