"Global economic growth is based on several events. Of course, this will have an impact on Indonesia's export and import activities," BPS Head Margo Yuwono stated during a press conference here, Tuesday.
As a major trading partner, Yuwono said, China's economy grew 4.8 percent. The lockdown that occurred in Shanghai due to the COVID-19 pandemic will have an impact on Indonesia's trade performance with China.
Meanwhile, the increased interest rates of the US Federal Reserves would also have an impact on the global economy.
"The US government yesterday set the Fed's interest rate, and it has an impact on the global economy. Of course, in future, it will have an impact on Indonesia's exports and imports," he remarked.
Related news: BI sees global economy growing 5.8% in 2021
Meanwhile, India's economy grew by 4.6 percent in the first quarter of 2022. However, extreme weather in the country has caused the demand for electricity supply to soar and led to a declining supply of coal.
"Of course, this has affected our export-import," Yuwono emphasized.
Several events in April 2022, including the fasting month of Ramadan and Eid al-Fitr, had boosted public consumption and increased the imports of goods to meet the domestic demand.
The IMF has slashed the global growth forecast to 3.6 percent as an impact of the war in Ukraine.
In its World Economic Outlook, the IMF said, the war has triggered a costly humanitarian crisis that demands a peaceful resolution.
At the same time, economic damage from the conflict will contribute to a significant slowdown in global growth in 2022 and add to inflation.
Fuel and food prices have increased rapidly, hitting vulnerable populations in low-income countries the hardest, it said.
Related news: BI lowers global growth forecast due to Russia-Ukraine conflict
Related news: Bank Indonesia raises global economic growth forecast to 5.7 percent
Translator: Sella P Gareta, Sri Haryati
Editor: Suharto
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