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 resul...
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