JAKARTA. President Joko Widodo’s visit to Europe shows the government’s concern over declining European Union (EU) trade with Indonesia. Experts have argued that this decline is due to product mismatch. According to data from the Central Statistics Agency (BPS), Indonesia's exports to Europe decreased by 5.6 percent annually over the last five years. The slump in trade in 2015 hit 11.74 percent, while the balance of trade dropped by 12.9 percent. "It is because the European market demands products, while we still depend on commodities," said Institute for Development of Economics and Finance (INDEF) director Enny Sri Hartati to thejakartapost.com on Monday.
Indonesian exports to Europe in decline
JAKARTA. President Joko Widodo’s visit to Europe shows the government’s concern over declining European Union (EU) trade with Indonesia. Experts have argued that this decline is due to product mismatch. According to data from the Central Statistics Agency (BPS), Indonesia's exports to Europe decreased by 5.6 percent annually over the last five years. The slump in trade in 2015 hit 11.74 percent, while the balance of trade dropped by 12.9 percent. "It is because the European market demands products, while we still depend on commodities," said Institute for Development of Economics and Finance (INDEF) director Enny Sri Hartati to thejakartapost.com on Monday.