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Indonesia sets strategies to save exports
Last Updated(Beijing Time):2012-06-07 20:26

Indonesia is implementing four strategies aimed at saving the country's exports amid the ongoing slowdown in economies across the world that has increased deficit of Indonesia's trade with foreign countries, a senior Indonesian official said here on Thursday.

"Impact of global economy crisis has exaggerated Indonesia's exports as it is evident in our trade deficit. It is also experienced by Japan, South Korea, Brazil and China from January to April this year," Trade Deputy Minister Bayu Krisnamurti said.

He said that surplus reduction in Indonesia's non-oil and gas commodities was ultimately caused by trade deficit with those countries, such as Singapore, Thailand and Australia.

Bayu said that in anticipating such a situation, Indonesia has set four strategies to save its exports, including intensifying trade promotion and diplomacy on commodity and destination countries basis.

Another is to improve the exports on added-value products to anticipate price reduction in international market, he added.

Still another is focusing efforts on exporting commodities to alternative markets whose economies are still growing.

Protecting and empowering domestic market is the fourth strategy, he said.

Indonesia recorded a trade deficit of 641.1 million U.S. dollars in April this year, or 138.5 percent lower from 1.7 million dollars surplus in the same period last year, according to the data issued by the trade ministry.

Deficit in non-oil and gas product stood at 17.9 million dollars, or 100.9 percent lower than 1.9 million dollars surplus in April last year.

Indonesia, however, saw a 2.1 million dollars surplus in its total trade from January to April this year, or 74.2 percent lower than it was in the same period last year.

Indonesia's exports dropped by 3 percent drop in its farming commodity from January to April this year compared to the corresponding period last year.

Export commodities that show signs of improvements during that period include automotive and auto parts, fat and palm oil, fish and shrimp and machinery.

Source:Xinhua 
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