Analyzing the Synergy Between Exports and Imports of Indonesia's Primary Commodities for Economics Recovery
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The COVID-19 pandemic has had a tremendous impact on the Indonesian economy, especially economic activity for businesses such as SMEs (Small and Medium Enterprises). The government is trying all means so that the Indonesian economy can recover as soon as possible. One of them is by intensifying the National Economic Recovery Program (PEN).
Along with the National Economic Recovery Program, the strengthening of export and import performance has helped restore economic conditions amid the COVID-19 pandemic. The success of economic recovery is also assisted by the speed of COVID-19 vaccination which is well distributed in various countries, thus reopening the course of the world economy.
According to the Coordinating Ministry for Economic Affairs, in May 2021, Indonesia's export value was recorded at $16.6M, an increase of 58.76%. As for imports, Indonesia itself recorded a value of $14.23M, an increase of 68.68%.
The manufacturing industry is the most stable sector under the pressure of the pandemic with the highest amount of export contribution. According to BPS data, the August 2021 export structure stated that the increase in the processing/manufacturing industry accounted for 76.42% of all exported goods.