JAKARTA. The Indonesian Entrepreneurs' Association (Apindo) predicts that non-oil and gas exports will miss this year's target of US$ 175.8 billion due to the realisation that only reached 57.72% as of August.
Apindo Deputy Chairman Benny Soetrisno said that to achieve the target Indonesia's non-oil and gas exports requires US$ 74.33 million. The figure, he said, is difficult to achieve because there are only months remaining until the end of 2019. "It means that our monthly exports have to reach US$ 15 billion," said Ms Soetrisno as quoted by Bisnis Indonesia, Tuesday (17/9).
From January to August 2019, non-oil and gas export performance dropped 6.66% from the same period in 2018. Mr Soetrisno asserted that the decline is due to tighter global trade competition, especially with fellow emerging countries such as Vietnam, Bangladesh, and Cambodia.
"Competition is getting tighter and the global economy as well as the Indonesian economy has been under pressure. As such, Indonesia's oil and gas exports have been declining compared to last year," he said. (KR/MS)