Exports expected to grow 7.5 percent in 2019
Source: The Jakarta Post Time:2019-01-11 09:32:02
The Trade Ministry expects the country’s exports to grow 7.5 percent this year to US$175.9 billion amid the global economic turbulence triggered by the trade war between the United States and China.
“The 7.5 percent growth target takes into account the projected 4 percent global trade growth and 4.8 percent import growth in developing countries,” Trade Minister Enggartiasto Lukita told a press briefing on Thursday.
He defended the modest forecast, saying that it was in line with the economic growth projection of the World Bank and International Monetary Fund, both of which expect global growth to slow.
Enggartiasto refrained from mentioning projected import growth for this year. However, last September the Finance Ministry expressed confidence that the government would be able to curb import growth to 7.1 percent from the 2018 estimate of 11.5 percent growth.
This year’s target is similar to expected export growth realization in 2018 of 7.5 percent, away of the ministry’s initial target of 11 percent.
The single-digit figure is also much lower than 2017's export growth of 16 percent.