Meanwhile, in terms of import performance, we detected a solid increase in raw material imports into Indonesia, indicating that manufacturers are increasing their production (which is always a positive sign in the context of activity and economic growth). But before we dive into Indonesia’s latest trade statistics, we first take a quick look at the international environment.
International exchange
Based on the latest publication released by the United Nations Conference on Trade and Development (UNCTAD), the value of world trade (goods and services) reached a record US$7.7 trillion in the first quarter of 2022 , an increase of approximately US$1 trillion. compared to the same quarter a year earlier.
Compared to Q4-2021, growth was somewhat more modest at US$250 million. Importantly, global trade volume growth has been much weaker, so the increase in the value of global trade is particularly triggered by rising global commodity prices. . For example, the UNCTAD report mentions that export growth has generally been stronger in commodity-exporting regions (such as Indonesia).
Looking at world trade in the first quarter of 2022, most economic sectors recorded substantial year-on-year (y/y) increases in value, with high fuel prices driving the very strong increase in the value of trade in the energy sector. However, trade in the transport and communication equipment sector remained below the levels observed in 2021 and 2019.
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