Manufacturing Still Accounts for Lion’s Share of Exports: Industry Minister

By : Nata Kesuma | Friday, February 16 2024 - 09:56 IWST

Minister of Industry Agus Gumiwang Kartasasmita (Photo by: Documentation of Cabinet Secretariat)
Minister of Industry Agus Gumiwang Kartasasmita (Photo by: Documentation of Cabinet Secretariat) - Jakarta, Indonesia's Industry Minister Agus Gumiwang Kartasasmita has said that the manufacturing industry still accounts for the highest share of national exports.

This, according to the minister, reflected in the industry’s contribution to the national economy in 2023, which reached US$186.98 billion, or 72.24 percent of the total exports.

“Our industry remains aggressive in expanding its export market. This shows that our manufacturing products already have competitiveness so that they are acknowledged by the world,” Kartasasmita said in a written statement received here on Thursday.

Based on the trends charted from 2019 to 2022, the manufacturing industry has continued to experience a significant increase, he pointed out.

He said that a surge in surplus was recorded in 2022, with manufacturing exports contributing US$206.06 billion — higher than US$177.20 billion the previous year.

Meanwhile, in 2019, the manufacturing industry contributed US$127.38 billion, and in 2020, the figure rose to US$131.09 billion.

The Industry Ministry is optimistic that the contribution of the manufacturing industry will climb to US$193.4 billion in 2024.

Related news: Mining benchmark prices increased in February 2024 period: ministry

"For 2024, we are targeting US$193.4 billion. We are optimistic that it can be achieved," the minister affirmed.

He then underlined the need for adaptive, responsive, and collaborative strategies to achieve the target. They include efforts carried out through the National Export Improvement Task Force formed by President Joko Widodo (Jokowi) in 2023.

According to Kartasasmita, the task force has been tasked with developing export resources and industry as well as deciding the strategy to improve the role of exports of micro, small, and medium enterprises by integrating them into the national export provider ecosystem.

He said that his ministry continues to be committed to advancing industrial downstreaming to improve the national economy.

"Industrial downstreamng is key to make Indonesia a developed country, which is also in accordance with the 2045 Golden Indonesia vision," he added. (Source

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