Indonesia must increase the share of tradable goods in its economy to strengthen exports and generate more foreign currency revenues, according to National Development Planning Minister Suharso Monoarfa. Suharso highlighted that currently, tradable goods—such as manufactured products and commodities—make up less than 50% of the country's economic transactions. In contrast, non-tradable goods and services, including sectors like property development, transportation, and communication, continue to dominate the economy. This imbalance, he explained, negatively impacts Indonesia's current account balance. "The export of tradable goods is key to generating foreign exchange revenues," Suharso stated during the Investor Daily Roundtable discussion at the Mulia Hotel in Jakarta. He also warned that the increasing demand for US dollars to support imports could further weaken the rupiah and hinder economic growth. "If our current account is under pressure, we need to generate greater revenues in US dollars while the central bank must maintain foreign exchange reserves. It's crucial for us

Source: https://jakartaglobe.id/business/indonesia-needs-to-boost-share-of-tradable-goods-in-national-economy-suharso