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Indonesia Sets ‘optimistic’ Export Target at US$220b

The Trade Ministry has set two different targets, one optimistic and one pessimistic, for Indonesia’s export performance next year. The optimistic target sets exports at US$220 billion, a 10 percent increase on this year’s expected figure.

“The pessimistic target, meanwhile, is US$200 billion, unchanged from the targeted performance of 2011,” Deputy Trade Minister Bayu Krisnamurthi said on Thursday in Jakarta, as quoted by kontan.co.id.

Bayu said the government decided on the two targets because of high uncertainties in the global economy, following the debt crisis in the eurozone and due to some international institutions cutting growth targets next year.

Indonesia has begun to feel the impact of the slowing global economy, with a 4.2 percent drop in total export values in October, which stood at $16.8 billion, compared with the previous month.

During January to October however, exports grew by 34.9 percent compared with the same period in 2010.

Source: www.Thejakartapost.com