ID :
38165
Wed, 12/31/2008 - 00:07
Auther :
Shortlink :
https://www.oananews.org//node/38165
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RI`S 2008 EXPORT GROWTH ESTIMATED AT 18-20 PERCENT : MINISTER
Manado, N Sulawesi, Dec 30 (ANTARA) - Trade Minister Mari Elka Pangestu expressed optimism that Indonesia's export growth in 2008 will reach about 18 to 20 percent.
"Indonesia's exports only began to decline in September while those in the preceding months all increased. So, we can expect an average increase by about 18 to 20 percent at the end of the year," the minister said here on Tuesday.
The minister made the remarks during a year-end discussion on the global crisis and its challenges at the Bank Indonesia's Manado branch office.
She said Indonesia was not experiencing a crisis as grave as that in the United States and Europe where there was minus growth due to drastically reduced demand.
The minister said the exposure to exports of Indonesia's gross domestic product (GDP) was about 30 percent while in Malaysia's case the figure was 110 percent, in Thailand's case 70 percent, in the Philippines' case 50 percent and in China's case 40 percent.
She said these ratios explained why in the other countries the decline in exports would directly affect the economy as a whole, while in Indonesia it would not.
Indonesia's exports were also relatively safer than those of other countries because, besides different markets and commodities, Indonesia had also succeeded in diversifying its markets.
She said Indonesia's exports to Europe in 2003 accounted for 19 percent of its overall exports but the figure dropped to 1.5 percent in 2008 while its exports to the United States fell from 15 percent (of overall exports) in 2003 to 11.3 percent in 2008.
"The reductions in these overseas market shares indicate that there has been market diversification in Indonesia's exports which go to newly emerging markets such as China where Indonesia's market share increased from 6 percent to 8 percent, India from 3 percent to 6 percent and in ASEAN countries," the minister said.
Indonesia's exports were also safe because they mostly conisted of commodities. Unlike electronics and automotive products which are directly affected when demand drops, commodities are not directly affected, she said.
"Indonesia's exports only began to decline in September while those in the preceding months all increased. So, we can expect an average increase by about 18 to 20 percent at the end of the year," the minister said here on Tuesday.
The minister made the remarks during a year-end discussion on the global crisis and its challenges at the Bank Indonesia's Manado branch office.
She said Indonesia was not experiencing a crisis as grave as that in the United States and Europe where there was minus growth due to drastically reduced demand.
The minister said the exposure to exports of Indonesia's gross domestic product (GDP) was about 30 percent while in Malaysia's case the figure was 110 percent, in Thailand's case 70 percent, in the Philippines' case 50 percent and in China's case 40 percent.
She said these ratios explained why in the other countries the decline in exports would directly affect the economy as a whole, while in Indonesia it would not.
Indonesia's exports were also relatively safer than those of other countries because, besides different markets and commodities, Indonesia had also succeeded in diversifying its markets.
She said Indonesia's exports to Europe in 2003 accounted for 19 percent of its overall exports but the figure dropped to 1.5 percent in 2008 while its exports to the United States fell from 15 percent (of overall exports) in 2003 to 11.3 percent in 2008.
"The reductions in these overseas market shares indicate that there has been market diversification in Indonesia's exports which go to newly emerging markets such as China where Indonesia's market share increased from 6 percent to 8 percent, India from 3 percent to 6 percent and in ASEAN countries," the minister said.
Indonesia's exports were also safe because they mostly conisted of commodities. Unlike electronics and automotive products which are directly affected when demand drops, commodities are not directly affected, she said.
