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Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Indonesia: Boosting Automotive Exports to Generate Foreign Exchange Earnings

Tuesday, June 10, 2014 > 08:53:23
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(Indonesia Investments)


Apart from the traditional earnings originating from the export of coal, crude palm oil (CPO) as well as income from the tourism sector, Indonesia aims to increase foreign exchange earnings through boosting exports of cars and automotive parts. The Indonesian Trade Ministry said that it expects the value of exported cars and components to rise to USD $4.8 billion in 2014, a 10 percentage point growth from the USD $4.4 billion worth of earnings recorded in 2013 as Indonesian car producers have been boosting sales abroad.


Based on data from the Indonesian Automotive Industry Association (Gaikindo), Indonesia, the second-largest car manufacturer in Southeast Asia (after Thailand), exported a total of 170,907 completely built units (CBU), 105,380 completely knocked down (CKD) cars and 12.3 million car components.

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