The Role of Macroeconomic Indicators and Global Oil Prices in Influencing Indonesia’s Crude Oil Exports to South Korea
Purpose: This study analyzes the impact of macroeconomic indicators and global oil prices on Indonesia's crude oil exports to South Korea, one of its strategic trading partners in the East Asia region. Method: A quantitative approach was employed using annual time series data comprising 24 obs...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Universitas Islam Negeri (UIN) Mataram, Faculty of Islamic Economics and Business
2025-06-01
|
| Series: | Journal of Enterprise and Development |
| Subjects: | |
| Online Access: | https://journal.uinmataram.ac.id/index.php/jed/article/view/13464 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1849333928604729344 |
|---|---|
| author | Annisya Auliani Didit Purnomo |
| author_facet | Annisya Auliani Didit Purnomo |
| author_sort | Annisya Auliani |
| collection | DOAJ |
| description |
Purpose: This study analyzes the impact of macroeconomic indicators and global oil prices on Indonesia's crude oil exports to South Korea, one of its strategic trading partners in the East Asia region.
Method: A quantitative approach was employed using annual time series data comprising 24 observations from 2000 to 2023. Secondary data were obtained from official sources such as Statistics Indonesia (BPS), the World Bank, and Index Mundi. Data analysis was conducted using multiple linear regression with the Ordinary Least Squares (OLS) method.
Results: The analysis indicates that South Korea’s inflation and GDP per capita growth positively affect Indonesia’s crude oil exports to the country. Conversely, the exchange rate and global oil prices negatively impact these exports.
Practical Implications for Economic Growth and Development: These findings provide relevant policy insights for the Indonesian government in responding to global economic dynamics, including strategies for exchange rate stabilization, export market diversification, and strengthening economic diplomacy.
Originality/Value: This study makes an original contribution by specifically examining the bilateral relationship of Indonesia’s crude oil exports to South Korea based on the dynamics of external variables. Its focus on a specific region and extended time coverage renders it a unique study that delivers tangible contributions rarely found in Indonesia’s international trade literature.
|
| format | Article |
| id | doaj-art-2a8795f84b5a429fb4cdb386f7cab724 |
| institution | Kabale University |
| issn | 2715-3118 2685-8258 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Universitas Islam Negeri (UIN) Mataram, Faculty of Islamic Economics and Business |
| record_format | Article |
| series | Journal of Enterprise and Development |
| spelling | doaj-art-2a8795f84b5a429fb4cdb386f7cab7242025-08-20T03:45:43ZengUniversitas Islam Negeri (UIN) Mataram, Faculty of Islamic Economics and BusinessJournal of Enterprise and Development2715-31182685-82582025-06-017210.20414/jed.v7i2.13464The Role of Macroeconomic Indicators and Global Oil Prices in Influencing Indonesia’s Crude Oil Exports to South KoreaAnnisya Auliani0Didit Purnomo1Universitas Muhammadiyah Surakarta, IndonesiaUniversitas Muhammadiyah Surakarta, Indonesia Purpose: This study analyzes the impact of macroeconomic indicators and global oil prices on Indonesia's crude oil exports to South Korea, one of its strategic trading partners in the East Asia region. Method: A quantitative approach was employed using annual time series data comprising 24 observations from 2000 to 2023. Secondary data were obtained from official sources such as Statistics Indonesia (BPS), the World Bank, and Index Mundi. Data analysis was conducted using multiple linear regression with the Ordinary Least Squares (OLS) method. Results: The analysis indicates that South Korea’s inflation and GDP per capita growth positively affect Indonesia’s crude oil exports to the country. Conversely, the exchange rate and global oil prices negatively impact these exports. Practical Implications for Economic Growth and Development: These findings provide relevant policy insights for the Indonesian government in responding to global economic dynamics, including strategies for exchange rate stabilization, export market diversification, and strengthening economic diplomacy. Originality/Value: This study makes an original contribution by specifically examining the bilateral relationship of Indonesia’s crude oil exports to South Korea based on the dynamics of external variables. Its focus on a specific region and extended time coverage renders it a unique study that delivers tangible contributions rarely found in Indonesia’s international trade literature. https://journal.uinmataram.ac.id/index.php/jed/article/view/13464Crude Oil ExportsMacroeconomic IndicatorsGlobal Oil PricesOLS Regression |
| spellingShingle | Annisya Auliani Didit Purnomo The Role of Macroeconomic Indicators and Global Oil Prices in Influencing Indonesia’s Crude Oil Exports to South Korea Journal of Enterprise and Development Crude Oil Exports Macroeconomic Indicators Global Oil Prices OLS Regression |
| title | The Role of Macroeconomic Indicators and Global Oil Prices in Influencing Indonesia’s Crude Oil Exports to South Korea |
| title_full | The Role of Macroeconomic Indicators and Global Oil Prices in Influencing Indonesia’s Crude Oil Exports to South Korea |
| title_fullStr | The Role of Macroeconomic Indicators and Global Oil Prices in Influencing Indonesia’s Crude Oil Exports to South Korea |
| title_full_unstemmed | The Role of Macroeconomic Indicators and Global Oil Prices in Influencing Indonesia’s Crude Oil Exports to South Korea |
| title_short | The Role of Macroeconomic Indicators and Global Oil Prices in Influencing Indonesia’s Crude Oil Exports to South Korea |
| title_sort | role of macroeconomic indicators and global oil prices in influencing indonesia s crude oil exports to south korea |
| topic | Crude Oil Exports Macroeconomic Indicators Global Oil Prices OLS Regression |
| url | https://journal.uinmataram.ac.id/index.php/jed/article/view/13464 |
| work_keys_str_mv | AT annisyaauliani theroleofmacroeconomicindicatorsandglobaloilpricesininfluencingindonesiascrudeoilexportstosouthkorea AT diditpurnomo theroleofmacroeconomicindicatorsandglobaloilpricesininfluencingindonesiascrudeoilexportstosouthkorea AT annisyaauliani roleofmacroeconomicindicatorsandglobaloilpricesininfluencingindonesiascrudeoilexportstosouthkorea AT diditpurnomo roleofmacroeconomicindicatorsandglobaloilpricesininfluencingindonesiascrudeoilexportstosouthkorea |