Indonesia lowers 2012 export growth forecast over global woes

KUALA LUMPUR: Indonesia will lower its 2012 export growth outlook to between 10-15 percent versus a previous 15-20 percent due to global economic uncertainties, the country's trade minister said on Saturday.

"If previously we estimated that the growth of our exports would be about 15 to 20 percent, we now have to revise it downwards to between 10 to 15 percent depending on how gloomy the world economic situation will be," Mari Pangestu said on Saturday on the margins of an ASEAN economic ministers' meeting.

Indonesian exports grew by 36 percent in the first half of 2011 but growth in Southeast Asian economies is likely to be hit next year because of slowing demand from the United States and Europe.