INDONESIA: record imports in 2012

According to data released by BPS (Bureau of Statistics of Indonesia), Indonesia made record import figures in 2012, with a value of US$191,000 million, registering an increase of 8.2% over the previous year. The Institute also said that import figures since 2007 have experienced a spectacular increase of 157%.

This figure is expected to remain above 9% in the coming years due to the growth of the middle class and its purchasing power, reflecting the excellent health of the Asian country's economy.

The record import increase in Indonesia in 2012 is mainly due to three factors: first, the growth of the productive sectors, which demand intermediate goods (about 73.1% more in 2012) for development; then, the increase in the purchase of foreign investment goods (+20%); and finally, the propensity of the local population to buy more and more foreign consumer goods (about 7% more than last year).

In contrast, Indonesian exports declined 6,64% to USD 190,000 million: however, exports are expected to return to growth again in the coming years, although probably only from 2014.

Manlio Urbano

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