Jakarta (ANTARA) - The National Development Planning Ministry will boost the exports of high-value manufactured products as part of efforts to achieve the target of 8 percent economic growth during the 2025–2029 period.
"Indonesia's exports in the future will really be directed toward the exports of manufactured products with high added value, not exports of raw products," the ministry's deputy for economic affairs, Amalia Adininggar Widyasanti, said here on Thursday.
In 2029, exports of goods are targeted to reach a value of US$400 billion, an increase of US$259 billion from 2023.
The target for the global market share for the next five years is 1.4 percent, up from 1.1 percent in 2023.
"We already know that once we can limit exports of raw materials and create processed exports, or what we call downstream products, this can create economic growth for regions that do downstreaming such as in North Maluku, Central Sulawesi," she expounded.
Another export prerequisite is strengthening participation in the global supply chain to 2.1 percent by 2029, up from 0.8 percent in 2022.
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Meanwhile, Indonesia's service exports are targeted to be increased to US$42.2 billion, up from US$23.2 billion in 2022.
According to Widyasanti, the Indonesian government has prepared three main strategies to boost export performance.
The first strategy is increasing competitiveness by aligning industrial policies and facilitation to make them more efficient and meet international standards.
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The second is strengthening economic diplomacy by lowering trade barriers and expanding market access through international agreements.
Third, bolstering export promotion by strengthening trade representatives abroad and diversifying promotional strategies, such as carrying out business matching, to enter the global supply chain.