Tuesday, 18 August 2009

Indonesia’s Export Predicted to Grow by Minus 15 Percent in 2009

Indonesia’s export would grow by minus 15 percent this year compared to total export of previous year which reached USD 137.02 billion as a result of global crisis. Hopefully by next year the curve line would move up to the level of plus five percent.

“Total export this year was apparently lower, the contracton was bigger, hopefully by next year it would bounch back to positive. So the prediction for this year was minus 15 percent, and next year to become plus 5 percent. This was based on the Government’s viewpoint.” This was disclosed by Minister of Trade Mari Elka Pangestu to Business News Thursday [30/7] at the Presidential palace.

The Government prediction was different from the prediction of the International Monetary Fund [IMF] which predicted that Indonesia’s export would grow by minus 9 percent this year and improved to minus 5 percent by next year.

The Government would remain to safeguard deficit of budget and provide sufficient for next year.

Indonesia’s export began to decline since October 2008, one month after the start of global crisis. However, the composition of Indonesia’s export which was only 38 % of GDP was not as big as the portion in neighboring countries.

The global economic crisis had reduced demand for Indonesia’s export commodities like oil palm, rubber, textile, and manufacture products.

Indonesia was notably the biggest producer of palm fresh plumes and the second largest rubber producer in the world.

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