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Jakarta Post

Trade balance on rocky road as coronavirus risks loom

  • The Jakarta Post

Jakarta   /   Wed, February 19 2020   /  02:05 am

Businesspeople and analysts expect Indonesia’s trade deficit to widen this year as the coronavirus epidemic is likely to drag down the country’s exports to China.They said the coronavirus disease (COVID-19) that first appeared in Wuhan, China, in early December would not only affect exports but also imports of raw materials of industrial goods from the world’s second-largest economy.Indonesian Employers Association trade division head Benny Soetrisno said in Jakarta on Monday that the outbreak would would significantly impact Indonesia in the second quarter of 2020, when stocks of imported raw materials used for exported-oriented goods would run low amid China’s currently limited capacity to export to Indonesia.In January, imports of raw materials and capital goods dropped by 7.35 percent and 5.26 percent year-on-year (yoy), respectively, Statistics Indonesia (BPS) announced on M...