Indonesia forecasts 18 percent growth rate in 2012 exports

Indonesia forecasts 18 percent growth rate in 2012 exports

2011-08-19 05:21:22 GMT+7 (ICT)

JAKARTA, INDONESIA (BNO NEWS) -- The government of Indonesia on Thursday said it estimates its exports in 2012 will increase by at least 18 percent, despite a negative outlook in global markets.

Indonesian Trade Minister Mari Elka Pangestu expressed optimism in the country's economic sector despite it slowing down in important global markets such as the United States and Europe, the Antara news agency reported.

Based on Indonesia's export trend during the year's first semester - which stood at $98.6 billion, 36 percent above the same period in 2010 - Minister Pangestu said the country's exports will increase between 18 and 20 percent in 2012.

"The annual pattern of export development in the country shows that the exports in the second semester were always higher than those in the first semester," Pangestu told the media outlet, adding that the government is forecasting its export values to reach $200 billion, which would represent a 25 percent increase.

If so, the minister assured that Indonesia would be able to maintain at least an 18 percent growth rate in 2012. Indonesia's export have been largely supported by commodities, among others, coal, palm oil and its by-products, food goods and manufacturing products.

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