Global slowndown starts to affect Indonesia

Indonesia Finance Minister Sri Mulyani has acknowledged that the decline in the global economy has begun to affect Indonesia as indicated by the sharp decline in the country’s exports in June.

The Minister said that the country’s exports declined 21 percent in June. The June export figure was sharp contrast with the export performance last year. According to data provided by statistics Indonesia, the country’s exports rose by 26 percent to 291.98 billion in 2022 year on year due to sharp increase in commodity prices. Imports also showed a downward trend.

In June, imports dropped by 18 percent year-on-year. The decline was caused by the drop in orders from international buyers especially for the country’s manufacturing goods.