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Jakarta Post

No picnic for Jokowi amid trade war

  • Rachmadea Aisyah

    The Jakarta Post

Jakarta   /   Fri, August 16 2019   /  12:32 am

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.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 United States to the brink of recession and triggered contraction in Western Europe’s largest economy, Germany.“This export downturn is because of highly fluctuating prices of some commodities, ...