ID :
338753
Fri, 08/22/2014 - 14:28
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New Government Expected To Boost Non Oil And Gas Exports

Jakarta, Aug 22 (Antara) - Indonesia`s Deputy Trade Minister Bayu Krisnamurthi is expecting the new government to boost the country`s non oil and gas exports, which have been showing signs of improvement, especially in emerging markets. "What must be a future concern is the deficit: The non oil and gas sector must be able to minimize the deficit or increase the non oil and gas surplus. But it is a different case for the oil and gas sector," said the deputy minister here on Friday. Bayu noted that the current concern is related to the trade balance deficit due to oil and gas import pressure, but the great potential present in emerging markets is expected to boost non oil and gas exports. The deputy minister cited the United Arab Emirates, especially Dubai, as an example of a trade connection in the Middle East. Besides this, traditional market countries such as the United States are still of concern since markets in those countries saw growth in the import of Indonesian products in the first semester of 2014. According to the ministry`s data, in the first half of 2014, Singapore saw 2.2 percent growth; the United States, 5.1 percent; the United Kingdom, 4.9 percent; and Italy, 4.6 percent. On the other hand, countries experiencing a decline in the import of Indonesian products are Japan, dropping 16 percent, and China, down 13.4 percent. Exports to a number of emerging countries are also seeing an increase, such as Australia, which grew 40 percent; the United Arab Emirates, up 69.4 percent; and the Republic of South Africa, which increased by 101.7 percent. The leading products experiencing growth are chemical products, up by 14.9 percent; processed food, up by 13.9 percent; and automotive products, up by 6.6 percent. Indonesian products experiencing a decline in exports in the first semester of 2014 include textiles, down 2.3 percent; electronics, down 8 percent; coffee, down 25.6 percent; and fishery products, down 12.8 percent.

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