Indonesia's Maritime Economic Contribution Will Be Assessed Through Ocean Account

luhut (Photo by: Gatra/Adi Wijaya)

The Coordinating Minister for Maritime Affairs and Investment (Menko Marves), Luhut Binsar Pandjaitan, hopes that in the near future his party will be able to find out the amount of Maritime Gross Domestic Product (GDP) that is being studied on the basis of a new concept that adopts a concept that is developing in the world, the Ocean Account.

Ocean Account or ocean balance is an integrated concept from a collection of data collected systematically and comparatively, regarding marine environmental assets, economic activities in the maritime sector, and social conditions.

The Coordinating Ministry for Maritime Affairs, as is known, is currently reviewing the contribution of Indonesia's maritime economy, based on Indonesia's new economic concept, which adopts the ocean account concept.

"We need Maritime GDP as a base line that we will monitor its progress every year. The achievement of Maritime GDP (this) will also be a feedback for maritime development that we will carry out in the future, "explained Luhut in commemorating the 58th National Maritime Day which falls today, as quoted in his official statement, on Friday (23/23/2020). 9).

Based on an interim maritime economic study conducted by the National Research and Innovation Agency (BRIN) with the Coordinating Ministry for Maritime Affairs, the estimated value of Indonesia's maritime GDP in 2020 will reach Rp. 1,212 trillion, or 11.31% of the national GDP, which is at Rp. 10,722 trillion. This value has decreased by around Rp. 19 trillion from 2019 which reached Rp. 1,231 trillion. The decline is thought to have occurred as a result of the Covid-19 pandemic.

Despite the decline in value, the contribution level of the maritime economy recorded an increase, from 11.25% in 2019 to 11.3% in 2020.

"This indicates that Indonesia's maritime sector is strong enough to face a global crisis like the Covid-19 pandemic," Luhut explained. 

The Largest Hydroelectric Power Plant in Indonesia...
Rising Water Demand Due to Masela Block Gas Projec...


Comments are not available for users without an account. Please login first to view these comments.

Providing you the latest news, insights, opportunities and events from the Indonesia water sector.

Indonesia Water Journal

Subscribe to our newsletter.