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Jakarta Post

Jokowi faces herculean task of boosting export as trade war escalates

  • Rachmadea Aisyah

    The Jakarta Post

PREMIUM
Jakarta   /   Thu, August 15, 2019   /  08:47 pm
The Jakarta Post Image
A crane lifts lumber for export onto a cargo vessel at a port. Indonesia's exports in July declined 5.12 percent year-on-year (yoy) to US$15.45 billion.(Reuters/Stringer)

Government efforts to take advantage of the trade war failed miserably as exports remain sluggish and foreign investments went to more attractive regional peers such as Vietnam, adding to President Joko “Jokowi” Widodo’s already heavy workload. Indonesia recorded a trade deficit of US$63 million in July, a reversal from a June trade surplus of around $300 million. The country’s balance of trade has maintained a negative trend overall from January to July with a deficit of $1.9 billion, which is still an improvement from the minus $3.21 billion it recorded during the same period last year. Shipments to its main export destinations have decreased against the backdrop of the escalating trade war that has pushed China’s economic growth to a 27-year low, the US to the brink of recession and triggered contraction ...