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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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If consumption stops, according to Lutfi, the supply chain industry in Indonesia will easily move their factories to other countries in Southeast Asia and this will have a bad impact on the economy.
However, the pandemic also had a positive impact, namely the non-oil and gas export figure which posted an increase of 14.7 billion dollars.
"This shows that our country is evolving from a country selling raw and intermediate goods to a country that produces industrial goods and high-tech industrial goods," he said.
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Indonesia has three superior non-oil and gas products, namely iron and steel products, vehicle and parts, and jewelry products (precious stone).
Disclaimer: This article was previously published on Pikiran-rakyat.com with the title "Menteri Perdagangan Paparkan Plus Minus Pandemi Terhadap Neraca Perdagangan Indonesia".***
