Global Slowdown Kiat Feels, Indonesian Exports Decay Four Months In A Row

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA The Central Statistics Agency (BPS) revealed that Indonesia's export value had decreased for four consecutive months.

Head of BPS Margo Yuwono said that Indonesia's exports in December 2022 amounted to 23.8 billion US dollars. This figure decreased by 1.1 percent compared to November 2022 which was worth 24 billion US dollars.

According to him, the downward trend in exports was recorded in September 2022, which amounted to USD 24.77 billion, then decreased to USD 24.72 billion in October 2022.

"This is influenced by the economy of the main destination country, such as China and the United States, thus having an impact on our export performance," he said when answering questions from the media crew on Monday, January 16.

Margo menjelaskan, China tetap menjadi negara tujuan ekspor yang memiliki peran terbesar dengan nilai 63,5 miliar dolar AS atau setara 23 persen.

Then, followed by the United States with a value of 28.2 billion US or 10.2 percent, and India 23.2 billion US dollars or 8.4 percent.

To note, the United States is currently trying to limit demand as an effort to manage inflation which is considered too high.

On the other hand, the country's central bank also responded to a surge in inflation through rising interest rates. As a result, the growth rate has become depressed, resulting in an economic slowdown.

Meanwhile in China, the pressure on the economy is more due to the COVID-19 factor which had increased sharply and forced business activities (manufaktur) to reduce their activities.

Furthermore, in general, Indonesia's export performance throughout 2022 managed to penetrate 291.9 billion US dollars or grew 26 percent compared to the 2021 period of 231.6 billion US dollars.