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INDONESIA: record imports in 2012

INDONESIA: record imports in 2012

According to data released by BPS (Institute of Statistics of Indonesia), in 2012 Indonesia set record imports, with a value of 191,000 million USD, recording an increase of 8.2% compared to the previous year. The Institute also stated that import data, since 2007, has experienced a spectacular increase in 157%.

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

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

On the contrary, Indonesian exports recorded a decline of 6,64%, reaching the figure of 190,000 million USD: however, it is expected that exports will start to grow again in the coming years, although probably only from 2014.

Manlius Urbanus

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