Exports, Imports, and Indonesia's Post-Pandemic Economic Growth: An Analysis from an Islamic Economic Perspective
Abstract
The background of this research stems from the sharp contraction of the Indonesian economy in 2020 due to the COVID-19 pandemic, which caused a -2.07% decline in GDP and weakened the international trade sector. However, a gradual recovery has occurred since 2021, with economic growth stabilizing at around 5% in 2022–2024. The objectives of this research are to analyze the role of exports and imports in Indonesia's economic growth, examine the relationship between investment and infrastructure with international trade, and examine their relevance to the principles of maqasid sharia. The method used is library research with a literature review approach and descriptive-comparative analysis. Data were obtained from national and international journals for the 2020–2024 period and official reports from the Central Statistics Agency. The results show that exports have a positive and significant impact on economic growth, while imports have a dual role: in the short term they can weaken the trade balance, but in the long term they actually support industrial development through imports of capital goods and raw materials. Furthermore, investment and infrastructure development have been shown to strengthen the competitiveness of Indonesian products in the global market by increasing productivity and logistics efficiency. From an Islamic perspective, international trade, including exports and imports, is permissible (mubah) as long as it does not involve prohibited goods, usury (riba), or gharar (non-violable goods). These trade activities should be directed towards safeguarding wealth (hifdzul maal), strengthening economic independence (istiqlaliyah), and improving the welfare of the community. The decline in Indonesia's trade surplus in 2024 serves as an important warning of economic vulnerability due to dependence on consumer goods imports and the dominance of primary commodity exports. This study emphasizes the need for diversification of value-added exports, strengthening import substitution industries, and implementing Sharia-based trade principles to ensure Indonesia's economic growth is more sustainable, independent, and equitable.
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