Indonesia records 2.34 billion USD trade surplus in February
Indonesia recorded a 2.34 billion USD trade surplus in February as exports rose but import edged down significantly, according to the Indonesian Statistics Indonesia (BPS).
Hanoi (VNA) - Indonesia recorded a 2.34 billion USD trade surplus inFebruary as exports rose but import edged down significantly, according to theIndonesian Statistics Indonesia (BPS).
Exports rose by 2.24 percent to 13.94 billion USD in February on theyear-on-year basis, but imports dropped by 18.69 percent to 11.6 billion USD.
Shipment of raw materials from abroad came lower by 8.9 billion USD in Februaryfrom 10.57 billion USD in the previous month.
Similarly, imports of capital goods nudged lower by 1.83 billion USD inFebruary from 2.23 billion USD in January.
February's trade balance surplus is expected to help narrow the country'scurrent account gap which is crucial for rupiah volatility.
The country's foreign exchange reserve ticked down 130.44 billion USD inFebruary from 131.7 billion USD in January./.
Bank Indonesia (BI) has vowed to maintain the country’s financial market stability amid expectations that economic growth will slow due to the spread of the COVID-19 outbreak.
PT Garuda Maintenance Facilities (GMF) AeroAsia, a company of flag carrier Garuda Indonesia, forecast stronger demand for maintenance, repair and overhaul (MRO) services from non-affiliated international airlines as a result of diverted flights due to the COVID-19 outbreak.
The Indonesian government announced on March 13 that it will allocate 120 trillion rupiah (8.1 billion USD) from the state budget to stimulate the economy by providing tax incentives and subsidies for workers, businesses and families affected by the COVID-19 outbreak.
The Indonesian tourism sector has suffered losses of at least 1.5 billion USD since January amid growing fears over the COVID-19, said Chairman of the Indonesia Hotel and Restaurant Association (PHRI) Hariyadi B. Sukamdani.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Illustrative image (Photo: VNA) 
