THE EFFECT OF EXCHANGE RATES, IMPORT TARIFFS, AND GROSS DOMESTIC PRODUCT (GDP) ON THE VALUE OF INDONESIAN FOOD IMPORTS FROM 2017 TO 2024

Autor(s): Asyabrina Ramadanti, Muhammad Allif Ramadhan, Mujakir Mujakir
DOI: 10.35760/ugefic.v8i1.111

Abstract

This study aims to analyze the economic effects of exchange rates, import tariffs, and Gross Domestic Product (GDP) on the import value of five major Indonesian food commodities, namely rice, wheat, sugar, soybeans, and beef during the period 2017–2024. The data were obtained from the Central Statistics Agency (BPS) and the Minister of Finance Regulation (PMK), then analyzed using panel data regression with the Common Effect Model (CEM), Fixed Effect Model (FEM), and Random Effect Model (REM) approaches. The results show that exchange rates, import tariffs, and GDP simultaneously have a significant effect on food import values. Partially, only import tariffs have a positive and significant effect, while exchange rates and GDP do not show a significant effect. These findings confirm that import tariff policies play an important role in determining food import values, while exchange rates and GDP are less dominant factors. The implications of this study encourage the need for more adaptive tariff policies and consideration of other factors, such as international food prices and domestic production, in maintaining national food security.

Keywords

Exchange Rate; Foodstuffs; GDP; Import Tariffs; Import Value.

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DOI: http://dx.doi.org/10.35760/ugefic.v8i1.111

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