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Indonesia exports improve as US economy rises

Indonesia exports improve as US economy rises

JAKARTA: Indonesia’s export and import performances in 2016 is expected to improve as the United States and Europe have managed to boost its economy.
“For 2016, we will still focus on stabilization. In 2015, our imports dropped by 15 to 20 percent, and exports decline by 14 to 17 percent. So, the decreasing trend might continue next year, but not as dramatic as that in 2015,” Trade Minister Thomas Lembong said in Kupang, East Nusa Tenggara, on Monday, December 28, 2015.
Thomas explained that the export and import performance would drop by two to five percent next year, because domestic industries were still adjusting with low demands on raw commodities.
According to Thomas, the United States is currently experiencing acceleration, and Europe’s economy is improving. As a result, Indonesia’s exports to both regions have been improving, while those to China are slowing down.
Thomas explained that with increasing exports from Japan, South Korea, China and Taiwan to United States, the economic conditions of the four countries would start to improve. As a result, demands to Southeast Asia, including Indonesia, would increase.
The Central Statistics Agency (BPS) reported that Indonesia’s export value in the period of January-November 2015 stood at US$138.42 billion, decreasing by 14.32 percent when compared to last year’s US$161.5 billion. Meanwhile, Indonesia’s import value in the same period stood at US4130.61 billion, declining by 20.24 percent from US$163.7 billion last year.
Indonesia recorded a surplus of US$7.81 billion in the period of January-November 2015. Meanwhile, the country recorded a deficit of US$1.65 billion in the same period last year.