Media

The Indonesian Employers' Association (Apindo) stated that expanding export market diversification to non-traditional countries could maintain the stability of Indonesia's trade surplus, which has lasted for 49 consecutive months.

"We can only continue to boost export market diversification. We see that the main traditional markets also face many challenges with the current geopolitical conditions, so we try to diversify the market," said Apindo Chairman Shinta Kamdani at the Diplomat Success Challenge event in Jakarta on Thursday (20/6).

Shinta explained that currently, Indonesia's international trade is still experiencing a surplus, but according to her, the quantity of profit obtained is increasingly thinning. Therefore, she considers that the market diversification efforts can be a strategy to mitigate deficits and maintain the stability of trade profits.

Furthermore, she stated that besides expanding to non-traditional market countries, they are also encouraging the government to facilitate exports in terms of financing, promotion, and regulations that support the advancement of the export ecosystem in the country.

"We also need to be supported by favorable regulations, especially since we see that our producers still need imported raw materials and auxiliary materials. Therefore, this must continue to be supported so that imports and exports can run smoothly for producers and exporters," she said.

Previously, the Central Statistics Agency (BPS) reported that Indonesia's trade balance has been in surplus for 49 consecutive months since May 2020, with a sustained profit of USD 2.93 billion in May 2024.

The sustained surplus is derived from the profit in non-oil and gas trade transactions amounting to USD 4.26 billion, offset by a deficit in oil and gas trade transactions of USD 1.33 billion. During the period from January to May 2024, Indonesia cumulatively experienced a surplus of up to USD 13.06 billion.