The trade sector in Indonesia has been able to contribute significantly to economic growth. In 2022, the contribution of exports of goods and services to Indonesia's Gross Domestic Product (GDP) reached 24.49%. Furthermore, Indonesia's trade balance recorded a surplus of USD 54.53 billion in 2022, which is the highest in history. In February 2023, Indonesia's trade balance also recorded a surplus of USD 5.48 billion. The Ministry of Trade of Indonesia has also made efforts to diversify export destinations and carry out trade missions to non-traditional markets such as Africa, the Middle East, and South Asia to explore new market potentials. Through international trade agreements, Indonesian businesses are also provided with toll facilities for exports to various trading partner countries.
Deputy Minister of Trade, Jerry Sambuaga, affirmed the Ministry of Trade's commitment to promoting the performance of the trade sector through various efforts, such as international trade agreements. Currently, Indonesia has 34 international trade agreements, including the Indonesia-Korea Comprehensive Economic Partnership Agreement (CEPA) and the Regional Comprehensive Economic Partnership (RCEP) which came into effect in January 2023. In addition, the Indonesia-United Arab Emirates (UEA) CEPA is also in the process of ratification and is expected to be enforced in the second quarter of 2023. The Ministry of Trade is also in the process of negotiating agreements with other trading partner countries and hopes that Indonesian businesses can take advantage of these trade agreements.
