Indonesian Trade Performance Nosedives Post-Ramadhan

Indonesia’s biggest exports went to China, the United States, and Japan respectively.

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Altogether, the three export destinations accounted for 41.82 percent of Indonesia’s total export in manufactured goods.

“Our export destinations have not changed because the changes take some time. Although the government has expanded our product diversification portfolio, Covid-19 has proven to be a tough challenge,” said Suhariyanto.

As a result of the pandemic, Indonesia’s economic performance for the first quarter this year  grew a mere 2.97 percent.

The result was a far cry from the expansion posted in the same period last year of 5.07 percent as well as the 4.97 percent recorded in the last quarter of 2019.

The Indonesian central government has since increased funding for Covid-19 management to Rp 677,2 trillion from Rp 405,1 trillion.

Special Advisor to the Coordinating Economic Minister Raden Pardede expects the Indonesian economy to rebound to a normal 5-percent level in 2023. 

(Writer: Fika Nurul Ulya | Editor: Sakina Rakhma Diah Setiawan) 

Source: https://money.kompas.com/read/2020/06/15/144000226/pasca-lebaran-ekspor-ri-jeblok-28-95-persen-pada-mei-2020