Deputy Trade Minister Indonesia can weather global economic recession

Deputy Trade Minister Jerry Sambuaga
Deputy Trade Minister Jerry Sambuaga. (Source: instagram/jerry.sambuaga)

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.

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“This is Indonesia’s capital to maintain the country’s resilience in the face of global uncertainty,” he said. (un)