Indonesia projects export growth of up to 9.6 pct by 2029

The Indonesian Trade Ministry has predicted that the country's overseas shipments could rise by 9.6 percent by 2029, fueled by increasing global trade, an official said on Tuesday.

Fajarini Puntodewi, head of the Trade Policy Agency at the ministry, said that Indonesia's exports to countries with which it has free trade agreements have been trending upward and are expected to continue to grow.

"The export target is between 7 percent and 9.6 percent by the end of 2029," she said.

According to data from the Trade Ministry, Indonesia's cumulative exports reached 192.85 billion U.S. dollars by September this year, marking a year-on-year increase of 0.32 percent. Puntodewi noted that she is optimistic that the target will be achieved considering that Indonesian exports continue to experience growth.

Among the nation's key export products are palm oil, cocoa, coffee, rubber, coal, tin, shrimp, furniture, and other commodities.