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Jakarta Post

COVID-19 pandemic looms over Indonesia’s record-high trade surplus

  • Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, March 16, 2020   /  07:15 pm
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Vehicles travel down Jl. Pak Kasih at the Pelindo II-operated Dwikora River Port on the Kapuas River in Pontianak, West Kalimantan. Indonesia recorded a US$2.34 billion trade surplus in February despite disrupted trade activities in China amid the spread of the coronavirus disease, Statistics Indonesia announced on Monday. (The Jakarta Post/Severianus Endi)

The spread of COVID-19 is expected to hit Indonesia’s trade surplus, which booked a nine-year high figure in February, as a shortage of raw materials for industry looms over the country, economists and businesspeople have said. Indonesia recorded a US$2.34 billion trade surplus in February despite disrupted trade activities in China amid the spread of the coronavirus disease, Statistics Indonesia (BPS) announced on Monday. The figure is the first surplus in four months and the highest since September 2011. The country recorded a total of $13.94 billion in exports in February, an 11 percent increase year-on-year (yoy), supported by increasing shipments of palm oil, gold, vehicles and textile products. Meanwhile, total imports declined 5.11 percent yoy to $11.60 billion as a result of fewer purchases of all consumer goods, raw materials and capital goods. “The data sho...