2018 export growth likely to be 7.5 percent, says trade minister
Trade Minister Enggartiasto Lukita has estimated that export growth in 2018 would reach only 7.5 percent, far below the targeted 11 percent, although the official result has not been released.
Last year's 11 percent target was already lower than the 16 percent 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 percent 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.