[Indonesia] Indonesia’s export structure is largely dominated by natural commodities, such as crude palm oil (CPO), coal and rubber. All of these commodities are mostly exported rather than consumed domestically. Hence, commodity prices impact export performance. Global CPO and coal prices declined throughout 2019.
Consequently, Indonesia’s export value dropped 8.6 percent year-on-year (yoy) in the first half, in contrast to the same period last year when export value rose 9.8 percent yoy.
Indonesia suffered a trade deficit of US$1.9 billion during the first half, higher than the $1.2 billion in the same period last year.To reduce the deficit, Indonesia should export more finished goods instead of raw commodities. However, it will take decades to revolutionize manufacturing. Alternatively, Indonesia should focus on promoting sectors that have greater export value.
One of the examples is the seaweed.
View full article at: Can Indonesia become the global seaweed champion?
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