Minister Of Industry Agus Claims The Highest Indonesian Manufacturing Add Value In Southeast Asia

Minister of Industry Agus Gumiwang Kartasasmita. (Photo: Theresia Agatha/VOI)

JAKARTA - The Ministry of Industry (Kemenperin) revealed that Indonesia is included in the ranks of the country with the largest increase in added value from the manufacturing value added (MVA) sector compared to all countries in Southeast Asia (ASEAN).

Minister of Industry (Menperin) Agus Gumiwang Kartasasmita claims, based on a World Bank report, Indonesia's total MVA in the latest data in 2023 reached 255.9 billion US dollars, an increase of 5.79 percent from the previous year.

Meanwhile, Thailand's MVA value of 128 billion US dollars and Vietnam was recorded at 102 billion US dollars.

"Indonesia outperforms other Asean countries, such as Thailand and Vietnam, whose MVA value is only half the value of Indonesia's MVA," Agus said as quoted from his written statement, Monday, May 5.

According to Agus, this figure is also the highest achievement in history since it was implemented in 1983.

Historically, the average MVA Indonesia from 1983 to 2023 was 102.85 billion US dollars, with a lowest value of 10.88 billion US dollars.

The output of the manufacturing value, said Agus, is also considered to have succeeded in matching a number of developed countries, such as Russia, Britain, and France.

"This reflects the contribution of the manufacturing industry to the national economy and its role in the global arena," he said.

Based on the same data, the world's average MVA is 78.73 billion US dollars, which is based on data from 153 countries.

To note, the manufacturing industry sector contributed 18.67 percent to Indonesia's Gross Domestic Product (GDP), making it the largest contributor compared to other sectors.

This achievement also confirms that the manufacturing sector continues to be the main driver of economic growth, job creation and competitiveness of Indonesia's exports.