Jakarta, IO – Deputy Trade Minister Jerry Sambuaga said Indonesia is in a stronger position to face the looming global economic recession judging from the performance of its trade sector during the Covid-19 pandemic.
He noted that the most obvious indicator is Indonesia’s trade balance until September.
“Up until September, Indonesia recorded a trade surplus of US$39.87 billion,” said Jerry, reported Antara on Friday (4/11).
Jerry said the trade sector has never experienced a slowdown even registered a surplus during the pandemic.
Thus, Jerry is optimistic that Indonesia will be able to weather the coming global recession, expected sometime in 2023. According to him, a very helpful factor is the increased exports of manufactured goods, which accounts for 70 percent of total exports.
“This is Indonesia’s capital to maintain the country’s resilience in the face of global uncertainty,” he said. (un)