BI: Migrant Workers Contribute To Foreign Exchange Of 14.22 Billion US Dollars Every Year

Photo: Doc. Antara

JAKARTA - Deputy Governor of Bank Indonesia (BI) Juda Agung said Indonesian migrant workers (PMI) every year donate foreign exchange of 14.22 billion US dollars. "So this Indonesian migrant worker annually donates 14.22 US dollars so that foreign exchange reserves or foreign exchange originating from them are number two after oil and gas," said Juda at the signing of a memorandum of understanding at the BI Headquarters, Jakarta, quoted from Antara, Friday 31 May.BI and the Indonesian Migrant Workers Protection Agency (BP2MI) cooperate through the signing of a Memorandum of Understanding on Cooperation and Coordination in the Context of Economic Empowerment and Finance as well as Indonesian Migrant Workers Statistics. The juda said that the foreign exchange achievement from PMI was the second largest after Indonesia's oil and gas exports. "So indeed the contribution is very significant in our economy, not only in their families, the education of their families or health of their abandoned families, which in the end of course to our PDB economic growth but also in our foreign exchange reserves yes because 14.22 US dollars billions are quite large," he said. The current foreign exchange in Bank Indonesia is recorded at around 138 billion US dollars, so that the foreign exchange achievement from PMI reaches more than 10 percent of the total foreign exchange reserves in BI. The total number of Indonesian migrant workers reached 273,747 people, placement in the January to December 2023 period, based on data from the Indonesian Migrant Workers Protection Agency. It is known that Indonesia exports in April 2024 were recorded at 19.62 billion US dollars, up by 1.72 percent (year-on-year/yoy), driven by increased oil and gas exports in line with increasing global energy prices.

Di sisi lain, ekspor sektor nonmigas pada April 2024 tercatat sebesar 18,27 miliar dolar AS, dengan share terbesar berasal dari ekspor bahan bakar mineral (16,83 persen dari total ekspor nonmigas).Secara kumulatif, nilai ekspor Indonesia Januari–April 2024 tercatat mencapai 81,92 miliar dolar AS, dengan share terbesar berasal dari ekspor ke China (23 persen dari total ekspor), disusul Amerika Serikat (10,48 persen), dan India (9,01 persen). Ekspor Indonesia ke kawasan ASEAN pada periode yang sama memberikan sumbangan sebesar 17,74 persen.