How Indonesia’s Exports Affect the Domestic and International Economy
Indonesia’s economy is different from the market characteristics of neighboring countries such as Thailand and Singapore. That difference is Indonesia’s economy is not mainly export-oriented. If it is accounted for in GDP, it only counts as 20% of the overall economy. But most markets are driven by more domestic trading.
But the advantages of being a country where the economy is not heavily dependent on exports This makes Indonesia less affected by global economic volatility. One of the important factors of the country’s economy is government control In terms of market prices for basic commodities such as fuel, rice and electricity
Ask, what are the important export products from Indonesia?
Including oil, natural gas, minerals, palm oil, electronic products and rubber products
Although the export of goods is not the main factor for the domestic economy. But the important point is that the products that Indonesia exports important to the global market The key customers for Indonesia’s exports are China, the United States, Japan, India, Malaysia, Singapore, the Philippines, South Korea, Thailand, Taiwan, Vietnam and the Netherlands. However, the factors contributing to economic growth or recession are also influenced by exports. which is bound to domestic product prices and fuel prices
From the research, it was found that Although the proportion of exports is a secondary factor for the economy But it can be said that most of the exports had a positive impact. It doesn’t make the economy worse or worse. Moreover, it uses innovations and reforms of old systems to meet the needs of the foreign market. Therefore, it is a small proportion that affects the economy. but full of success
Another thing that affects the Indonesian economy is a factor along with the export of goods. including money due to government trading and most private exports usually used in dollars This makes the dollar affect the economy as well.
Oil, natural gas, minerals, palm oil, electronic goods and rubber are among the positive variables of the Indonesian domestic economy. At the same time, it is an important trading partner with many large countries in the world. Indonesia’s exports make up a small percentage of the domestic economy. But almost all have a positive impact. In terms of the global economy, the major countries in the world rely on many products from Indonesia.
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refer
AsialinkBusiness, Indonesia’s export, Retrieved from https://asialinkbusiness.com.au/indonesia/getting-started-in-indonesia/indonesias-exports?doNothing=1#:~:text=Indonesia’s%20most%20important%20export%20commodities,electrical%20appliances%20and%20rubber%20products.
Worldtopexports.com, Indonesia’s top 10 exports, Retrieved from, https://www.worldstopexports.com/indonesias-top-10-exports/
Atlantic Press, The Effect of Exports on Economic Growth in Indonesia With the Exchange Rate of Rupiah as A Moderated Variables, Retrieved from file:///C:/Users/Git%20Jirasamatakij/Downloads/125948528%20(2).pdf
Last updated on : June 26, 2022
