Jakarta (VNA) - Indonesia targets nearly 294.5 billion USD in exports this year to push the country’s economy towards a growth target of 8% set by President Prabowo Subianto.
Prabowo is upbeat that the Indonesian economy can expand 8% within the first year of his term, topping the country’s 5% growth rate over the past years. This ambitious goal translates into yearly export target increases.
Indonesia is eyeing 294.5 billion USD in exports in 2025, up by 7.1% year-on-year from the 274.9 billion USD yearly export baseline in 2024.
Given the current global economic situation, Indonesia's gross domestic product (GDP) growth target, the rupiah-dollar exchange rate and global commodity prices, the country's 2025 export target is appropriate, Trade Minister Budi Santoso said on January 6.
Southeast Asia's largest economy plans to raise its export target by nearly 7.1% year-on-year in 2026, to 315.3 billion USD. The target will soar 7.9% to 340.2 billion USD in 2027, and almost 8.8% to 370 billion USD the following year. The current Prabowo government also intends to wrap up its final year in office with a 405.7 billion USD export in 2029, marking a 9.6% year-on-year growth compared to the 2028 target.
Indonesia also wants to have more of its micro, small and medium enterprises (MSMEs) - which make up about 61% of the national GDP - penetrate into the international market. In 2025, it has set an export target of 19.3 billion USD for its MSMEs. By 2029, these businesses should post approximately 35.3 billion USD in exports, according to Budi.
Government data showed Indonesian exports totalled about 241.3 billion USD in the first 11 months of 2024. The country's non-oil and gas sector contributed 226.9 billion USD with mineral fuels making up 15.9% of the exported goods. China remained Indonesia's top destination for non-oil and gas exports, reaching 54.4 billion USD over the reviewed period.
At present, Indonesia has 19 bilateral and multilateral free trade deals which have provided the country with better market access to the Association of Southeast Asian Nations (ASEAN), China, Australia, and Japan, among others./.
