Jakarta: Trade Minister Enggartiasto Lukita has revealed that Indonesia's export value is expected to grow by 7.5 percent this year.
"The target is quite realistic. The world's economy is still recovering," the NasDem Party politician told the press on Thursday.
According to him, the recently-signed Indonesia-EFTA Comprehensive Economic Partnership Agreement (IE-CEPA) and Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) could help boost Indonesian exports. Nevertheless, those agreements should be ratified first.
"We haven't ratified those agreements. So we don't issue higher target," he added.
Quoting a report from the Central Statistics Agency (BPS), Indonesia recorded a trade deficit of US$8.57 billion in 2018. It was the highest ever recorded by the agency.
Indonesian exports reached US$180.06 billion in 2018. The number increased by 6.65 percent compared to 2017.
Indonesian non-oil and gas exports reached US$162.65 billion last year. The number increased by 6.25 percent compared to the previous year.
According to BPS, Indonesian economy grew by 5.17 percent in 2018. It was Indonesia's highest annual growth in five years.
Indonesian economy is measured by Gross Domestic Product (GDP) on the basis of the current price reaching Rp14,837.4 trillion and GDP per capita reaching Rp56 Million or US$3,927.
In terms of production, the highest growth was achieved by Other Service Business Fields at 8.99 percent. From expenditure side, the highest growth was achieved by the Non-Profit Institution Consumption Component Serving Households (PK-LNPRT) at 9.08 percent.
In the meantime, Indonesian economy grew by 5.18 percent in the fourth quarter of 2018. The growth was slightly stronger than earlier expectations.
In terms of production, growth was driven by all business fields, where the highest growth was achieved by Other Service Business Fields at 9.08 percent.
In terms of expenditure, growth was driven by all components, where the highest growth was achieved by the PK-LNPRT component of 10.79 percent.