KONTAN.CO.ID - JAKARTA. A government policy to impose higher import tariffs on 1,147 consumer goods has been unable to significantly discourage importers, with imports decreasing by less than 10 percent since the rule was implemented in October. “From January to September, the [monthly] value of imports was US$31.1 million. It only decreased to $28.1 million [after the policy was introduced],” the Finance Ministry’s customs and excise director general Heru Pambudi, said in Jakarta on Monday as quoted by kompas.com. Heru further explained that for consumer goods whose tariff increased from 2.5 percent to 7.5 percent, the exports value declined from $15.9 million to $13.9 million. For consumer goods whose tariff rose from 2.5 percent to 10 percent, the import value declined from $4.86 million to $4.82 million.
Consumer goods tariff hike shows little effect in curbing imports
KONTAN.CO.ID - JAKARTA. A government policy to impose higher import tariffs on 1,147 consumer goods has been unable to significantly discourage importers, with imports decreasing by less than 10 percent since the rule was implemented in October. “From January to September, the [monthly] value of imports was US$31.1 million. It only decreased to $28.1 million [after the policy was introduced],” the Finance Ministry’s customs and excise director general Heru Pambudi, said in Jakarta on Monday as quoted by kompas.com. Heru further explained that for consumer goods whose tariff increased from 2.5 percent to 7.5 percent, the exports value declined from $15.9 million to $13.9 million. For consumer goods whose tariff rose from 2.5 percent to 10 percent, the import value declined from $4.86 million to $4.82 million.