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Indonesia exports to continue to grow

Christian Fernsby |
Head of the Fiscal Policy Agency of the Ministry of Finance, Febrio Kacaribu, had projected export performance to continue to grow in the future.

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Topics: INDONESIA   

"Going forward, export performance is expected to remain strong, supported by high demand and prices," Kacaribu noted in an official statement, Wednesday.

In January 2022, exports grew by 25.31 percent year-on-year, or US$19.16 billion, amid increasing risks and moderation of economic growth and global trade.

Although growth slowed as compared to December 2021 due to seasonal factors, exports that continued to grow strongly indicated that the outbreak of the Omicron variant did not have a significant impact on production and export activities.

Meanwhile, import performance in January 2022 recorded a growth of 36.77 percent year-on-year, or US$18.23 billion, which reflects that domestic consumption and production activities continued to show recovery.

"Import performance in 2022 is estimated to increase in line with continued stronger economic recovery," Kacaribu remarked.