He noted that total exports to China during the period of January to November 2023 reached US$56.57 billion. The value of exports until the end of 2023 is projected to reach US$60 billion.
"In 2023, it is projected that after the data for December is out, it will at least reach US$60 billion. The next year (2024), if the average increase is 2.5 percent, Inshallah (God willing), it could be at US$65-70 billion," he stated after the Ministry of Trade's 2024 Outlook event here on Thursday.
This increase in export target is an effort to improve the performance of exports to China that had experienced a decline in 2023. In 2022, exports to China were valued at US$65.9 billion.
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Sumedi explained that the decline in export performance did not only occur between Indonesia and China. It was caused by a decrease in the global commodity prices.
"Actually, we have optimism that our exports are still strong, our export competitiveness is still good globally, and we are hopeful about the expectation conveyed by the WTO that 2024 will be better," he remarked.
The Ministry of Trade has prepared several programs to boost the performance of exports to China in 2024, one of them being holding an exhibition of Indonesian products in several provinces of the country.
"In 2024, we will increase several programs for China, for example, we are cooperating with several provinces in China to showcase our products there through a kind of expo," he remarked.
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Translator: Maria Cicilia, Raka Adji
Editor: Yuni Arisandy Sinaga
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