INDONESIA's Export Yellow Light, A State To Start Reduce Requests To Press Inflation

Illustration (Photo: Doc. Pelindo)

Minister of Finance (Menkeu) Sri Mulyani said that Indonesia's trade balance surplus book experienced for about 30 consecutive months supported national economic resilience.

The Minister of Finance explained that the trade balance surplus in the November 2022 period was 5.1 billion US dollars. As for the cumulative, the January-November 2022 surplus reached 50.5 billion US dollars.

"This achievement is bigger than last year, which reached a surplus from January to November 2021 of only 34.4 billion US dollars," he told reporters via online channels on Tuesday, December 20.

Even so, the state treasurer said that there were indications of weakening that had occurred in recent months. This is reflected in the increasingly sloping growth in exports, triggered by global uncertainty.

"The world is currently busy fighting inflation, so many central banks are raising interest rates to suppress demand," he said.

Such conditions, continued the Minister of Finance, made the demand for goods and services in export destination countries decreased.

"Of course we have to be aware of its influence on Indonesia's export performance going forward," he said.

Meanwhile, in terms of imports, it is dominated by decreased oil and gas imports due to declining demand for gasoline, diesel, and natural gas. For non-oil and gas, it is largely influenced by the slowdown in imports in the agricultural sector such as wheat, tubers, soybeans, and iron ore mining goods.