Indonesia Plays Significant Role to Bring ASEAN Economic Progress
- Lukas - Biro Pers Sekretariat Presiden
VIVA – Indonesia’s ASEAN chairmanship in 2023 plays a significant role to bring and drive the economic growth of the countries in Southeast Asia in a better direction, the Deputy Minister of Trade, Jerry Sambuaga feels optimism.
"Indonesia is the most populous country in the ASEAN. Of course, in terms of size and economy, Indonesia plays a significant role. Indonesia is also the largest democracy in ASEAN. These aspects are Indonesia's assets in leading the ASEAN and increasing the economic growth of ASEAN countries in a better direction," Sambuaga stated in Magelang, Central Java, on Wednesday.
He stated that Indonesia needs to hurry in capitalizing on positive opportunities for its exports amid its chairmanship in the ASEAN 2023. Moreover, in the last five years, Indonesia's trade balance surplus with the ASEAN has continued to increase.
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"In 2018, a trade balance surplus was recorded at 3.92 billion US dollars. The surplus is getting bigger to reach 20.42 billion US dollars in 2022,” he informed.
Furthermore, ASEAN has become an active global trader, with a value reaching US$3.4 trillion in 2021 or 7.5 percent of the world's global trade. This value has increased significantly since 2010, with a value of US$2 trillion.
Despite being affected by the COVID-19 pandemic, the ASEAN economy has demonstrated the ability to recover well and is projected to achieve an 11 percent year-on-year growth.
The Trade Ministry noted that Indonesia's non-oil and gas trade balance with the ASEAN during the 2018-2022 period experienced a surplus and continued to increase. In 2018, the trade balance surplus was recorded at US$3.92 billion and reached US$20.42 billion in 2022.
Meanwhile, in January 2023, Indonesia's trade balance with the ASEAN still registered a surplus of US$1.42 billion. Of the nine other ASEAN member countries, Indonesia only experienced a trade balance deficit of US$398.8 million with Thailand and US$10.8 million with Laos.
