PALM OIL EXPORTS BECOME THE MAIN CONTRIBUTOR OF EXPORT GROWTH IN HELPING INDONESIA’S ECONOMIC RECOVERY DUE TO THE COVID 19 PANDEMIC

Abstract

The increase in the price of palm oil has an impact on exports of palm oil or CPO. Palm oil exports are the main contributor to export growth. The increase in Indonesia's exports was not only supported by CPO but also other commodities such as coal, steel and other mining goods. However, CPO is one of the biggest contributors. CPO growth is among the highest among others and this is the main contributor to the large export growth and the main contributor to the trade surplus. The rapid growth of CPO exports is considered to be a damper for economic contraction. Finally, it will have a positive impact on Indonesia's economic growth, which is still in the recovery phase after the COVID-19 pandemic. This study aims to analyze the effect of exports of palm oil on Indonesia's economic growth in 2013-2020. The research method used is simple regression with Eviews software. The results of the study show that palm oil exports have a positive and significant impact on Indonesia's economic growth.