Jakarta: Trade Ministry director general of national export development Arlinda believes this year's export growth target can be achieved amid the ongoing trade war between the United States and China.
According to Arlinda, the government will take advantage of the escalating rivalry between the two larget economies. In order to boost export growth, Indonesian products should be able to fill gaps in export demand.
"This year's export growth target is 7.5 percent. That is for all commodities," Arlinda said here on Wednesday.
"We have trade attaches in 23 countries. There are Indonesian Trade Promotion Centers in 18 countries," she remarked.
Indonesia’s Trade Balance recorded a USD0.21 billion surplus in May 2019, reversing the USD2.28 billion deficit posted the month earlier. A non-oil and gas trade surplus together with a narrower oil and gas trade deficit were the main contributors to the surplus.
The non-oil and gas trade surplus stemmed from a growth surge of non-oil and gas exports coupled with flatter non-oil and gas imports. Meanwhile, the oil and gas trade deficit narrowed on increasing oil and gas exports along with decreasing oil and gas imports.
The non-oil and gas trade surplus stood at USD1.19 billion in May 2019 after recording a USD0.79 billion deficit the month earlier. On one hand, the improvement was driven by an increase of non-oil and gas exports from USD12.37 billion in April 2019 to USD13.63 billion in the reporting period, induced by shipments of vegetable/animal oils and fats, jewellery/gems, as well as mineral fuels. On the other hand, non-oil and gas imports fell USD0.72 billion (mtm) to USD12.44 in May 2019, primarily held back by imports of electrical machinery and equipment, iron and steel as well as machinery and mechanical appliances.
The oil and gas trade deficit decreased to USD0.98 billion in May 2019 from USD1.49 billion in the previous period. The improvement was prompted by an uptick of oil and gas exports from USD0.74 billion in April 2019 to USD1.11 billion in May 2019 on the back of gas exports as export volume increased yet export prices decreased. Meanwhile, oil and gas imports declined from USD2.24 billion to USD2.09 billion in the reporting period, weighed down by refined products and gas in line with lower export volume affecting both components.