Ministry Of Trade Targets Export Growth Of Up To 9.6 Percent In Five Years

Illustration. (Photo: Doc. Antara)

JAKARTA - The Ministry of Trade (Kemendag) targets export growth in the next five years to reach 7.1 percent to 9.6 percent.

Head of the Trade Policy Agency (BK Perdag) Fajarini Puntodewi said the achievement was an effort by the Ministry of Trade to support President Prabowo Subianto's target of achieving Indonesia's economic growth of 8 percent.

"Next year we are targeting 7.1 percent. So supporting economic growth of 5 percent until the end of the 2029 period reaches 8 percent, with an export growth target of 9.6 percent, so between 7 percent and 9.6 percent," said Puntodewi in Gambir Trade Talk in Jakarta, quoted from Antara, Tuesday 19 November.

Puntodewi said that the target was very large. However, he is optimistic that this target will be achieved considering that Indonesia's exports continue to grow.

Data from the Ministry of Trade noted that the value of Indonesia's exports for the January-September 2024 period reached 192.85 billion US dollars, an increase of 0.32 percent compared to the previous year.

Meanwhile, Indonesia's trade balance in September 2024 posted a surplus of USD 3.26 billion. This figure is higher than the August 2024 surplus of USD 2.78 billion.

The trade balance surplus has continued its surplus trend for 53 consecutive months since May 2020.

"So we are optimistic, we are optimistic that by the end of 2024 the trade balance target of the surplus will still be achieved and there will still be an increase in exports," said Puntodewi.

To realize this target, the Ministry of Trade will take advantage of trade agreements that have been made with several partners. According to Puntodewi, Indonesia's export trend has increased with countries that have free trade agreements.

In addition, the Ministry of Trade will also diversify the market to expand the market share of Indonesian products globally.