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【聚焦】经济创9年来最快增速 印尼对华贸易额已近万亿！今年对65%的中国商品实施零关税！Indonesia's trade with China has reached nearly one trillion yuan. Zero tariffs on 65% of Chinese goods this year!
Indonesia, with a population of over 270 million, is the largest economy in ASEAN. China has been Indonesia's largest trading partner for nine years in a row. China is also the second largest source of investment for Indonesia. The year 2023 marks the 10th anniversary of the establishment of China-Indonesia comprehensive strategic partnership. As for bilateral cooperation, Indonesian President Joko Widodo said after his visit to China last year that he looks forward to further strengthening friendly cooperation with China and contributing to regional and global prosperity and stability.
Exports surged 26 percent in 2022
According to import and export data released by the Indonesia Statistics Bureau on January 16, Indonesia's exports in January-December 2022 were 291.98 billion US dollars, up 26.07% year on year; Non-oil and gas exports were $275.96 billion, up 25.80 percent year on year.
Among them, in December 2022, Indonesia's export volume was 23.83 billion US dollars, a year-on-year growth of 6.58%; Non-oil and gas exports reached $22.35 billion, up 4.99 percent year on year. In December 2022, the main country destinations for Indonesia's non-oil and gas exports were China ($5.79 billion), Japan ($2.08 billion) and the United States ($2.06 billion), contributing 44.39 percent.
In January-December 2022, Indonesia's largest trading partners for non-oil and gas imports were China ($67.16 billion, 34.07 percent), Japan ($17.08 billion, 8.66 percent), and Thailand ($10.85 billion, 5.50 percent).
Economic growth has been the best in nearly a decade
Indonesia's gross domestic product (GDP) grew 5.31% in 2022 from a year earlier, the fastest pace since 2013, according to data released by the National Bureau of Statistics on Thursday.
Rising global commodity prices for Indonesia's top exports of coal, palm oil and steel, domestic consumption driven by the lifting of quarantine measures and a rebound in tourism will drive "impressive" economic growth in 2022, statistics Bureau chief Margo said.
Consumption, exports and investment underpinned Indonesia's growth in 2022, according to National Bureau of Statistics director Yuwono. The fastest growth was in the transportation and storage sector, up 19.87 percent year on year; Exports of goods and services increased by 16.28% year on year. The accommodation and catering industry saw a year-on-year growth of 11.97%.
Indonesia's Coordinating Minister for the Economy, Arranga, noted that digital transformation has boosted Indonesia's economic momentum. The country's digital economy was worth $77 billion in 2022 and is expected to grow to $146 billion by 2025. Indonesia "has a clear advantage" in competing in the digital economy, he said.
The head of Indonesia's Financial Services Authority, Mahendra, said the country's economic recovery will continue in 2023, supported by domestic consumption and investment. In August 2022, Indonesian President Joko Widodo explained the 2023 national revenue and expenditure budget draft in the Parliament, saying that the Indonesian government has set the economic growth target of 5.3% in 2023.
The entry into force of the RCEP will unleash new potential in China-Indonesia economic and trade cooperation
According to the General Administration of Customs of China, in the first December of 2022, the total value of imports and exports between China and Indonesia reached 995.69 billion yuan, up 23.8% over the same period last year. Among them, China's export to Indonesia was 475.57 billion yuan, up 21.6% year on year; The import from Indonesia was 520.12 billion yuan, up by 26.0% year on year.
On January 2 this year, the Regional Comprehensive Economic Partnership (RCEP) officially entered into force for Indonesia. According to the agreement, Indonesia has implemented immediate zero tariff on 65.1 percent of products originating in China, and China will also implement immediate zero tariff on 67.9 percent of products originating in Indonesia. Foreign trade enterprises of both countries can enjoy import duty reduction.
Under the RCEP, based on the China-Asean Free Trade Area, Indonesia has granted zero-tariff treatment to over 700 additional Chinese products, including some auto parts, motorcycles, televisions, clothing, shoes and plastic products. On the basis of the China-Asean free trade Agreement, China will further open its market by lowering taxes on Indonesian pineapple juice and canned products, coconut juice, pepper, diesel, paper products, some chemicals and auto parts.
In addition to low tax rates, it will be more efficient and convenient for Indonesian consumers to buy goods from China in the future. According to the "Release of Goods" provisions of the RCEP, customs procedures will be simplified among member countries, and tax declaration policies will be relaxed, which will ultimately make cross-border e-commerce logistics more efficient and transport costs lower in the region. In terms of economic and trade rules, the entry into force of the RCEP has gradually standardized and unified intra-regional trade rules with unified rules of origin, customs procedures, inspection and quarantine, and technical standards, and the integration of trade standards in intra-regional markets has greatly weakened trade barriers. The e-commerce cooperation between China and Indonesia will see a new round of growth.