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JAKARTA (The Jakarta Post/Asia News Network): Indonesia has gotten closer to China than the United States in goods trade and foreign direct investment in the past few decades, benefitting from the rapid development of the world’s second-largest economy.
Work being carried out at a Softex factory in Sidoarjo, East Java, in January 2020. Softex Indonesia is one of the country's biggest producers of pads and diapers.- Antara JAKARTA (The Jakarta Post/ANN): Indonesia’s manufacturing growth slowed down in February after hitting a six-year high the previous month as flooding and the Covid-19 pandemic disrupted the sector. The country’s Purchasing Managers’ Index (PMI) dropped to 50.9 in February from 52.2 in the previous month, business information provider IHS Markit reported on Monday (March 1). The index, a gauge of the sector based on a monthly survey of roughly 400 manufacturers, still stood above the 50-point threshold and thus signalled a sustained expansionary trend that began in November.
JAKARTA: Indonesia has again logged a trade surplus in a trend that began in May last year as commodity prices have picked up while the Covid-19 pandemic has battered demand for imported goods. According to data published by Statistics Indonesia (BPS) on Monday, Indonesia booked a surplus of US$1.96bil in January. While the surplus is the lowest since June, with both exports and imports down from the previous month, the figure marks a stark contrast to a trade deficit of US$640mil registered in January last year. Exports fell to US$15.30bil in January, down 7.48% from US$16.54bil in December 2020, which was the highest figure since 2013. Despite the monthly drop, exports in January are up 12.24% from the same month last year as major trading partners like China have re-emerged from the pandemic.
JAKARTA (The Jakarta Post/ANN): Indonesia’s manufacturing activity rose to its highest level since July 2014, as the sector continued its gradual recovery from the pandemic-induced downturn for four consecutive months, although domestic demand is expected to remain slow and extended restrictions still pose risks going forward. The country’s manufacturing Purchasing Managers’ Index (PMI) further rose to 52.2 in January from 51.3 in December last year, according to business information provider IHS Markit on Monday (Feb 1). A reading above 50 reflects an expansion from the previous month. “The Indonesian manufacturing sector remained on the path to recovery at the start of 2021, with growth of output and new orders among the best in the decade-long survey so far, ” IHS Markit economist director Andrew Harker was quoted in the press release as saying.