Posted on 23 Mar 2009
Bank Indonesia says exports to fall in 2009
The deputy governor of Indonesia's central bank has predicted a fall in exports this year due to the global financial crisis, the state news agency Antara said Saturday.
Indonesia has been hit by falling commodity prices and sagging demand from major buyers such as Japan and the United States, triggering fears it may be on the brink of recession.
"Indonesia's exports in 2009 are expected to experience a negative growth of 4.6 percent due to the world economic downturn and decline in commodity prices," Antara quoted Bank Indonesia Deputy Governor Hartadi Sarwono as saying.
Exports make up about a third of Indonesia's economic output, but overseas sales plunged 36 percent in January compared to the year before.
The National Development Planning Agency has said it expects exports to fall by six percent this year.
Indonesia, which is Southeast Asia's biggest economy, has revised its growth forecasts for 2009 from more than six percent to about 4.5 percent due to the global slump.
