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March 12, 2009

Indonesian exports to fall 6% in 2009
Indonesia’s National Development Planning Agency (Bappenas) predicted on Wednesday that the national export growth rate would reach minus six this year.

"Export growth rate will be negative around six percent because there will be a decrease in both volume and pricing in fuel and gas exports, as well as goods and services," Bappenas Macro Planning Director Bambang Prijambodo was quoted by the Jakarta Post as saying Wednesday.

He added that for the non-fuel and gas sector there is a 20 percent potential decrease in export earnings, roughly estimated to around $ 21.6 billion when compared to last year at $108 billion.

According to Prijambodo, the decrease in Indonesian exports is expected as all markets were suffering from economic recession due to the global economic downturn.

"The Asian tigers are also in recession. Thailand has predicted a minus one export growth, Singapore has similarly declared a negative growth as well. They are our highly potential markets," he said.

Prijambodo also argued that despite the fact that a weakening Rupiah would render Indonesia cheap as a tourist destination, foreign travellers would not necessarily jump at the opportunity due to financial wariness.



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