The government had reduced its export growth target for next year to below 11.9% because of slower demand from Japan, the US and Europe, Trade Minister Mari Pangestu said on Tuesday, Bloomberg reported.<\/p>\n
The three regions account for about a third of Indonesia's export sales, she said.<\/p>\n
This year's estimated 12.5% growth would already be the slowest growth in Indonesia's exports in five years, Bloomberg data shows.<\/p>\n
The reduction in the export growth forecast follows a downgrade in Indonesia's economic growth estimate to between 5.5% and 6% from an earlier estimate of 6.3%, Pangestu said. \"The slowdown in China will also affect us,\" said Pangestu.<\/p>\n
Exports to China, Indonesia's fourth-biggest market, reached $5.6 billion in the first eight months of the year, an increase of 29% from a year earlier, according to the Central Bureau of Statistics.<\/p>\n
Separately, Pangestu said the government remains committed to free trade and is not planning to raise trade barriers in response to the global financial crisis, Agence France-Presse reported.<\/p>\n
\"The government will not impose any policies that could be in breach of Indonesia's international trade agreements,\" she told reporters at a trade expo opened by President Susilo Bambang Yudhoyono in Jakarta.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/govt-reduces-export-growth-target-1225172845", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }