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Batam FDI, exports continue to rise in Q3 2022
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Amid uncertain global economic conditions, Batam’s investment landscape still shows a positive trend.
Foreign investment (FDI) realization in Batam for Q3 2022 was recorded at US$ 157.0 million, up 42 percent from Q2 which was recorded at $ 110.5 million. Overall, the FDI value for the period of January to September 2022 reached $ 499.7 million or approximately Rp 7.8 trillion.
Batam's export activities in July 2022 reached $ 1.2 billion, an increase of 4.07 percent compared to June. Total exports from January to July reached $ 8.3 billion, with the largest export commodities being industrial products at 89.95 percent.
The five largest export destination countries are Singapore at 47.7 percent, the United States at 19.2 percent, China at 4.7 percent, Australia at 2.5 percent and Germany at 2.3 percent.
The increasing value of export was accompanied by an increase in imports. Batam's import value in July 2022 was recorded at $ 1.1 billion, with the total imports from January to July reaching $ 7.3 billion.
From imported goods, 50.2 percent were industrial needs, namely electrical machinery and equipment. The biggest imports came from China at 31.8 percent, Singapore at 22.1 percent, Taiwan at 6.9 percent, Japan at 5.4 percent and Malaysia at 4.9 percent.
With the ongoing infrastructure development as well as issuance of policies that facilitate investment, BP Batam remains optimistic even in the threat of a global recession as numerous foreign companies are investing in Batam this year, particularly companies engaged in the digital industry and the Internet of Things (IoT), along with existing companies that have committed to expand.
Overall, the economy in Batam continues to grow both during the economic crisis and pandemic, which cannot be separated from the role of BP Batam as a regulator in the Free Trade Zone area.
