Indonesia's 2012 total export value may decline 5 to 7%
JAKARTA (REUTERS) - Indonesia's total export value may decline between 5 and 7 per cent this year compared to 2011 as the economic slowdown in Europe and the US pushes down commodity prices, Trade Minister Gita Wirjawan told an investment summit in Jakarta on Wednesday.
"Export volumes will increase, but their sum total or rupiah or dollar value will decline. That is largely because of declining commodity prices. We know that 65 percent of our exports are linked to commodities," Mr Wirjawan said.
"As a result of the slowing down of all of the economies in western Europe and to some extent the US, our trade has changed," he said.
In 2011, Indonesia's exports increased 13.3 per cent year-on-year.