According to the latest data recently released by the Indonesian Statistics Agency, Indonesia's annual export volume in 2023 increased by 8 percent year-on-year compared to 202255%, of which the export value in December amounted to 224$100 million, with a surplus for 44 consecutive months since May 2020. Fibilio, director of the Fiscal Policy Bureau of the Indonesian Ministry of Finance, said that the overall positive trend of Indonesia's exports in 2023 shows the resilience of economic development.
In recent years, Indonesia has continued to introduce policy initiatives to expand exports**. The Ministry of Indonesia has set up special institutions such as the Promotion Center. In September 2023, Indonesia** established a National Export Promotion Task Force. Relevant departments and institutions actively strengthen the collection, research and analysis of market information and data, so as to provide policy guidance for export enterprises and improve the competitiveness of export enterprises. In December last year, Indonesia*** held a forum to analyze the opportunities for Indonesia's business activities in the Asia-Pacific and Africa regions. Indonesia*** also plans to develop regional thematic and economic data reports for 2024.
According to Indonesia's official data, the number of micro, small and medium-sized enterprises (MSMEs) accounts for 77 of Indonesia's total exporters28%, but the export value only accounts for 41%。To this end, Indonesia's relevant departments from the policy, capital, information and other aspects of the tilt to small and medium-sized enterprises, through increasing financing, providing training, relaxing market access qualifications and procedures, holding international exhibitions, the development of e-commerce and electronic payment and other measures to optimize the business environment of micro, small and medium-sized enterprises exporters, encourage and expand the export of micro, small and medium-sized enterprises, promote fair competition, and achieve common development.
In view of the fact that primary raw materials account for the majority of export products, Indonesia has paid more attention to improving the added value of export products and encouraging investment in processing industries in recent years. Since 2014, Indonesia has continuously adjusted its mining policy, including reducing the export of some ore raw materials, encouraging investment in the construction of smelters, and using more raw materials for the production of stainless steel and other processed products, aiming to extend the domestic industrial chain and increase the added value of products. For example, by processing nickel ore into ferronickel, its added value can be increased by more than ten times, which is expected to bring more foreign exchange earnings. Indonesia's Ministry of Export Development said that in the future, it will be committed to the development of downstream industries of raw materials and continue to introduce relevant measures to increase the added value of export products, with a view to further expanding exports in 2024.
China is Indonesia's largest partner, largest export destination and importer. According to data from the Indonesian Bureau of Statistics, the amount of bilateral goods between China and Indonesia will reach 1,271 in 2023$200 million. Indonesia has raised its export target to China to $65 billion to $70 billion in 2024 and has developed a number of cooperation plans. Didi Sumeidi, director of the National Export Development Bureau of the Ministry of Indonesia, said that the Indonesian export department will continue to deepen cooperation with China and will strengthen the promotion of Indonesian products in the Chinese market by holding expos and other means.
In the past 12 years, Indonesia's exports to 13 major export destinations, including China and Singapore, accounted for 75% of total exports. In order to make the market more diversified, the Ministry of Indonesia continues to explore the export market, seek foreign trade cooperation with more countries and regions in Africa, the Middle East, Latin America and other places, and sign free trade agreements, preferential agreements and comprehensive economic partnership agreements and other forms of cooperation to expand the sales of domestic products.
JAKARTA, Feb. 5 (Xinhua) --