Indonesia’s 2023 trade surplus predicted to exceed 38 bln USD

Illustrative image (Photo: https://www.republika.co.id/)

Hanoi (VNA) – Head of the Indonesian Ministry of Trade's Trade Policy Agency Kasan projects that the country’s trade will still experience a surplus of 38.3-38.5 billion USD in 2023.  

According to the official, there is still a possibility that Indonesia will still have a surplus in the trade balance next year.

This growth rate will depend on the situation that will be faced, including in export destination countries, he said. 

With this trade surplus, the Ministry of Trade is targeting non-oil and -gas export growth at 3.9-4.7% next year. Meanwhile, oil and gas export is projected to grow 6.8-8%.

In the strategy to increase exports, Kasan said that the policy direction was aimed at developing exports of value-added goods and services to increase economic productivity, he said. 

The ministry has also focused efforts to bring Indonesian goods into non-traditional export markets in African, Middle Eastern and South Asian countries.

To strengthen the domestic market, there were 18 trade remedy measures imposed by Indonesia, consisting of 10 anti-dumping and eight self-defense measures, Kasan said./.