The value of bilateral trade between Indonesia and Germany showed a positive performance throughout 2022. This is clearly reflected in the value of trade recorded between Indonesia and 6 states accredited to the Indonesian Consulate General in Frankfurt which are the states of Baden-Württemberg, Bayern, Hessen, Nordrhein-Westfalen, Rheinland-Pfalz, and Saarland.
“As the main centre of industry and the largest population concentration in Germany, Indonesia's leading export product dominantly enters through the 6 working states under the Indonesian Consulate," said the Indonesian Consul General, Acep Somantri.
A recent publication (20 February 2023) from the German Federal Statistics Office (Destatis) showed that the trade value between Indonesia and the 6 states reached EUR 4,83 billion in 2022. The value of the trade in question increased by 39,62% compared to the previous year (year-on-year).
Indonesia was also able to record a trade balance surplus with the 6 states as much as EUR 1,1 billion in 2022. The surplus increased by 38,58% compared to the trade balance surplus in 2021.
The trade value exceeded the numbers of the pandemic period in 2019 which only totalled EUR 3,63 billion. The value of trade between Indonesia and the 6 states in 2022 contributed 57,46% of the trade value between Indonesia and all 16 states in Germany.
The population of the 6 states in the accreditation of the Indonesian Consulate General in Frankfurt makes up 63,61% of the overall country's population, contributing to 68% of the overall German GDP.
“Trading performance continues to improve, even exceeding the previous pre-pandemic performance which suggests a gradual recovery of economic activity for Germany in 2022. The achievement is a consolation in the middle of an energy crisis and high inflation that currently impact Germany as a result of the Russian-Ukraine conflict," said the Consul General.
Fundamentally, the Indonesian leading export commodity to the 6 states under include processed leather and garment products; food products; chemical material; electronic products and equipment; metal; rubber and plastic products; as well as motorized vehicle materials.
The Indonesian Consulate General in Frankfurt also continues to encourage direct investment increases (FDI) from Germany to Indonesia, especially those that are export-oriented. Throughout 2022, the realization of FDI from Germany to Indonesia reached USD 195.46 million through 1,195 projects. The realization of the FDI increased by 7.22% compared to last year. The realization of the German FDI to Indonesia is expected to continue to grow next year in line with the German industry supply diversification policy which is directed to be carried out outside the China (Beyond China), especially in the Southeast Asian region.
Source:
https://kemlu.go.id/portal/en/read/4467/berita/indonesian-exports-to-6-states-under-accreditation-of-indonesian-consulate-general-in-frankfurt-germany-increases-significantly-in-2022
