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WartaBulukumba - There are positive and negative impacts of the Covid-19 pandemic on Indonesia's trade balance.
This was explained by the Minister of Trade of the Republic of Indonesia, Muhammad Lutfi.
Lutfi's statement surfaced in a virtual seminar entitled "International Trade Strategy and Indonesia's Efforts to Improve Its Role in the Global Value Chain" which was held by the Master of Management Program at the Faculty of Economics and Business (MM FEB) University of Indonesia some time
He presented an explanation regarding the comparison of Indonesia's trade balance before and after the Covid-19 pandemic.
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One of the most important notes he explained was about the decline in the consumption sector in the automotive industry throughout 2020.
“Our car sales have decreased by more than 48% per year, while motorcycle sales have decreased by 43% per year. This has a big impact, because the main driver of our economy is consumption, "he said in a written statement from UI Public Relations.
If the industry declines, he continued, disruption to employment will occur. "And this will cause a decrease in the level of consumption which will affect our Gross Domestic Product (GDP)," he said.
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