Indonesia's Car Exports Reach Record High

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13/02/2018 13:04 WIB

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Amidst the sluggishness of the domestic automotive market, Indonesia's automotive export performance has shown double-digit growth and recorded its highest ever.

Indonesia's Car Imports and Exports (CBU) (2004-2017)

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Indonesia's Car Exports Reach Record High

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Indonesia's Car Imports and Exports (CBU) (2004-2017)

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Amidst the sluggishness of the domestic automotive market, Indonesia's automotive export performance showed double-digit growth, reaching a record high. Despite cancellations of automotive shipments to the Vietnamese market, Indonesian car exports still increased last year.

Based on data from the Indonesian Automotive Manufacturers Association (Gaikindo), Completely Built Up (CBU) car exports in 2017 grew by 18.92% to 213,000 units compared to the previous year. This figure is the highest ever recorded and represents the highest growth in the last five years.

Similarly, over a decade (2007-2017), Indonesian car exports increased by 283.57% compared to 2007, when they reached only 60,000 units. Meanwhile, CBU car imports over the last 10 years only grew by 60.91% to 89,000 units. Car imports reached their highest level in 2014 at 169,000 units. However, they subsequently declined for the following two years before rising again last year.

(Read Databoks: Indonesia Has Been a Net Car Exporter Since 2007)

"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."