Indonesia's Export and Import Values Soar in 2022, Reaching Highest Levels Since 2012

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Cindy Mutia Annur 16/01/2023 15:20 WIB

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Indonesia's export and import values in 2022 surged to record highs, the highest in the last decade.

Indonesia's Annual Export and Import Values (2012-2022)

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Indonesia's Export and Import Values Soar in 2022, Reaching Highest Levels Since 2012

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Indonesia's Annual Export and Import Values (2012-2022)

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According to data from the Central Statistics Agency (BPS), Indonesia's export and import values in 2022 surged to their highest level in the last decade.

Indonesia's export value in 2022 reached US$291.97 billion, a 26.07% year-on-year (yoy) increase compared to 2021's US$231.6 billion.

This performance was driven by non-oil and gas exports, which rose 25.8% (yoy) to US$275.95 billion in 2022, while oil and gas exports increased by 30.82% (yoy) to US$16.02 billion.

National import value throughout 2022 also rose 21.07% (yoy) to US$237.52 billion. This comprised a 58.31% (yoy) increase in oil and gas imports to US$40.41 billion, and a 15.5% (yoy) increase in non-oil and gas imports to US$197.1 billion.

Although Indonesia's foreign trade shows a strengthening trend, the World Bank predicts its performance will weaken this year due to declining export demand.

In its Indonesia Economic Prospects (IEP) report, December 2022 edition, the World Bank projects that Indonesia's economic growth will weaken from 5.2% in 2022 to 4.8% in 2023.

"Weakening global demand could harm Indonesia's export performance and reduce foreign investment flows. Global monetary tightening could also trigger larger capital outflows and rupiah depreciation, subsequently fueling inflation," stated the World Bank in the report.

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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Indonesia's Export and Import Values Soar in 2022, Reaching Highest Levels Since 2012

Indonesia's Export and Import Values Soar in 2022, Reaching Highest Levels Since 2012

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Indonesia's Export and Import Values Soar in 2022, Reaching Highest Levels Since 2012

Indonesia's Export and Import Values Soar in 2022, Reaching Highest Levels Since 2012

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