Jokowi Meets Bongbong Marcos: How Strong Are Indonesia-Philippines Trade Relations?

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Cindy Mutia Annur 12/01/2024 18:54 WIB

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President Jokowi held a bilateral meeting with Philippine President Bongbong Marcos in Manila on Wednesday, January 10, 2024. Indonesia has consistently maintained a trade surplus with the Philippine

Indonesia-Philippines Trade Value (2018-2022)

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Indonesia-Philippines Trade Value (2018-2022)

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President Joko Widodo (Jokowi) held a bilateral meeting with Philippine President Bongbong Marcos at the Malacañan Palace in Manila on Wednesday (January 10, 2024).

During the meeting, Jokowi and Bongbong Marcos agreed to strengthen border cooperation, accelerate defense cooperation in border regions, and increase trade.

"Indonesia is requesting Philippine support regarding the special ship guard measure for Indonesian coffee products," Jokowi stated in his press release on Wednesday (January 10, 2024).

Indonesia's trade relations with the Philippines have generally strengthened over the past five years.

This is evident in the value of exports and imports, and the Indonesia-Philippines trade balance, which has shown an upward trend from 2018 to 2022.

According to data from the Ministry of Trade, in 2022, the total value of Indonesian exports to the Philippines reached US$12.9 billion, an increase of approximately 50% year-on-year (YoY).

The total value of imports from the Philippines also increased by approximately 17.33% (YoY) to US$1.49 billion.

With exports exceeding imports, in 2022 Indonesia achieved a trade surplus with the Philippines of US$11.41 billion, up 55.66% year-on-year.

From 2018 to 2022, Indonesia also consistently achieved a trade surplus with the Philippines, with details as shown in the graph.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Jokowi Meets Bongbong Marcos: How Strong Are Indonesia-Philippines Trade Relations?

Jokowi Meets Bongbong Marcos: How Strong Are Indonesia-Philippines Trade Relations?

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