2018 export growth likely to be 7,5%, says trade minister

TRADE BALANCE - JAKARTA. Trade Minister Enggartiasto Lukita has estimated that export growth in 2018 would reach only 7,5%, far below the targeted 11%, although the official result has not been released.

Last year's 11% target was already lower than the 16% export growth achieved in 2017.  

Enggartiasto has attributed the lower export growth to global economic turbulence that led to a decline in local market demand.

"I just want to be realistic, as I see that non-oil and gas exports only [grew] 7,47% in November," Enggartiasto told reporters on Monday at the ministry.

The trade minister's projection reflects Indonesia's trade balance predicament, which recorded a US$ 7,52 billion deficit in November.

The government, he said, would keep expanding bilateral and multilateral trade agreements in order to secure access to foreign markets  and drive exports.