Export Of Bicycle Components Continues To Increase, Indonesia Enlarges Its Market Base In Singapore

Illustration (Photo: Doc. Antara)

JAKARTA - Deputy Minister of Trade (Wamendag) Jerry Sambuaga released the export of bicycle component products produced by PT Shimano Batam Indonesia to Singapore.

According to the Vice Minister of Trade, the neighboring country in Southeast Asia is the main export destination for Indonesian bicycle components. This assumption is based on data reported by Trademap.

“The release of this bicycle component product export shows the cycling trend is not only happening in the country, but also in the world. These indications also have a positive impact on the Indonesian economy in encouraging exports of bicycle components," he said in an official statement quoted on Tuesday, March 1.

The Vice Minister of Trade added that he is committed to continuing to support business actors, encouraging product downstreaming, and increasing exports of non-oil and gas products to the global market. He also appreciated the national industry players who were still aggressive in penetrating the export market in the midst of the pandemic.

"As a program to increase national exports, the Government of Indonesia, both at the center and in the regions, will continue to encourage an increase in export value from the industrial sector. The Ministry of Trade will also continue to encourage the creation of added value for export products and market expansion to partner countries," he said.

Based on information released by the Central Statistics Agency (BPS) it is stated that the export of bicycle components in 2017-2021 has increased by 13.54 percent. Meanwhile, the export growth value for 2020-2021 is US$1.12 billion.

Meanwhile, Indonesia's three export destinations besides Singapore are the United States with a valuation of product shipments reaching 16 million US dollars, Vietnam with a potential of 26 million US dollars, and Germany with a market development potential of up to 25 million US dollars.