Manufacturing exports in January–May 2022 reached USD 83.73 billion, up 25% from USD 66.99 billion in the same period last year. Industrial shipments made the largest contribution, accounting for 72.83% of total national exports of USD 114.97 billion over these five months.
“Manufacturing export achievements contributed to Indonesia's trade balance, which continued its surplus trend in May 2022 at USD 2.89 billion. This surplus trend has continued since May 2020, for 25 consecutive months,” Minister of Industry Agus Gumiwang Kartasasmita said in Jakarta on Tuesday (21/6).
The Minister said the renewed trade surplus is something to be grateful for, as it supports the ongoing national economic recovery. “To maintain the trade surplus, the government continues to push export market expansion to various countries,” he said.
According to Agus, Indonesian industrial sectors are increasingly aggressive in expanding export markets, such as to European countries including the Netherlands and Germany, which are affected by supply problems due to the Russia–Ukraine war. “We are also actively pushing small and medium industry (SMI) products to go international,” he said.
The ability of industry to break into export markets shows that products made by Indonesians are recognized and in demand abroad because they meet applicable standards and quality. For example, Indonesia has exported cars to Australia, proving Indonesian vehicles are competitive.
“These cars meet Euro 4 standards, as required by Australia. That is something to be very proud of, meaning Indonesia can already produce cars meeting emission standards set by countries such as Australia and in Europe,” he said.
The Minister stressed that the government is increasingly encouraging bilateral and multilateral cooperation to expand market access for competitive national industrial products globally. “Including forums in Indonesia's G20 Presidency, which can be optimized to achieve these international cooperation goals,” he added.
According to Statistics Indonesia (BPS) data, manufacturing exports in May 2022 reached USD 14.14 billion, up 7.78% from USD 13.12 billion in the same month last year. Industry made the largest contribution, at 65.73% of total exports of USD 21.51 billion in May 2022.
In May 2022, Indonesia's largest non-oil and gas export destination was China at USD 4.59 billion (22.95%), followed by India at USD 2.26 billion (11.27%) and the United States at USD 2.05 billion (10.26%). Exports to ASEAN reached USD 4.7 billion (20.34%) and shipments to Europe USD 1.46 billion (7.28%).
Source: Ministry of Industry press release