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Export Expansion of Fishery Products Expected to Obtain CAD
Posted By : 2018/12/07 00:19:04

The Indonesian fisheries industry is expected to be able to increase exports to help reduce the current account deficit (CAD), which in the third quarter had formed 3.37 percent of Gross Domestic Product (GDP). This was stated by the Minister of National Development Planning or Head of the National Development Planning Agency (Bappenas) Bambang Brodjonegoro.

 

 

Minister Bambang argues that if fishery product exports continue to be increased, it will help cover the trade deficit. He gave an example of Thailand, a neighboring country that has a surplus of CAD due to the high export of food and beverage ingredients. So according to him, not only through the oil and gas trade, the fisheries sector can also have a huge influence.

According to Minister Bambang, the decline in the performance of the trade balance was mainly influenced by the increase in the oil and gas trade balance deficit, while the increase in the surplus in the non-oil and gas trade balance was relatively limited due to high imports due to strong domestic demand.

In the case of the current account deficit, Minister Bambang said, the maritime and fisheries sector could directly help reduce its trade deficit by increasing exports.

"Our fisheries export potential is still very large, especially for fresh fish exports," he said.

He believes, in the long run the Indonesian economy still has a large opportunity to grow, this is indicated by the demographic bonus in 2030.

Bambang hopes that besides helping to reduce the current account deficit, the marine and fisheries industries in the future will be able to help solve social problems. For example, with the opening of employment opportunities to reduce poverty and social inequality.

"Not only is this industry going forward and competing, but also social issues about poverty, unemployment and inequality. Must consider the three social aspects," he said.

 

This article’s citing an article from kkp.go.id titled “Peningkatan Ekspor Produk Perikanan Diharapkan Dapat Tekan CAD”