Indonesia’s exports, imports nosedive in May as COVID-19 restrictions hit trade

first_imgIndonesia recorded a trade surplus of $4.31 billion during the first five months of the year, compared to a deficit of $2.68 billion in the same period last year.Several countries, including China, the United States and Japan, among others, remain Indonesia’s largest trading partners. Lockdowns and social distancing measures associated with the coronavirus pandemic have sapped global commerce and growth, disrupted supply chains and closed factories and stores.Several regions in Indonesia have implemented large-scale social restrictions (PSBB) to curb the spread of the virus, forcing businesses to close and people to stay home. This has reined in consumer spending as people are worried about job prospects and have become pessimistic about economic prospects, according to a consumer confidence index survey published by Bank Indonesia on Friday.The World Trade Organization (WTO) projected that global trade would shrink between 13 and 32 percent as the economic impact of the health crisis remained uncertain.The WTO has forecast a rebound in the 2021 global goods trade of between 21 and 24 percent, depending largely on the duration of the outbreak and the effectiveness of policy responses.Topics : “Economic development has not been good around the world,” said BPS head Suhariyanto during a news conference. “We are seeing weaker purchasing power, lockdowns, as well as economic contraction for our trading partners, which all have an impact on our trade balance.”The country’s oil and gas exports declined 42.6 percent yoy to $650 million, while exports of mining products fell 38 percent yoy to $1.33 billion. Exports of manufactured goods dropped nearly 26 percent to $8.31 billion in May.Imports of consumer goods shrank nearly 40 percent to $930 million due to fewer purchases of air conditioners and washing machines, among other items. Imports of raw materials plummeted 43 percent to $6.11 billion, while imports of capital goods shrank 40 percent to $1.39 billion.From January to May, the country booked $64.46 billion in exports, a decrease of 5.96 percent,  while imports amounted to $60.15 billion from January to May, a 15.5 percent yoy decrease. Indonesia booked a trade surplus of US$2.09 billion in May as imports fell steeper than the export slump against the backdrop of social restrictions worldwide and supply chain disruption, Statistics Indonesia (BPS) announced Monday.Exports plunged 28.95 percent year-on-year (yoy) in May to $10.53 billion, the lowest since July 2016, due to falling exports of coal, coffee, palm oil, as well as oil and gas, according to BPS data . Meanwhile, imports fell even faster by 42.2 percent to $8.44 billion, the lowest since 2009, due to weak domestic demand for consumer goods, raw materials and capital goods.last_img read more

Badgers still reap benefits despite humiliating Huskies

first_imgThose weren’t little orange cones on the Kohl Center ice sheet this past weekend, but for most of the series, the UW women’s hockey team skated around, past and through visiting St. Cloud State like it was only there for practice.However, much more than the final scores of the two games (10-0 on Friday night and 6-0 on Sunday afternoon) meant something to the Badgers.As St. Cloud State came in with the league’s worst record (0-22-1, 0-17-1-1), it was likely that No. 1 ranked Wisconsin would put some gaudy offensive numbers up against them.But to say that the weekend was a waste is probably false. The Badgers were able to work on some things and give several young players a great opportunity to play in game situations when normally they wouldn’t have the chance.“There is always stuff to work on. If it’s not putting the puck in the net, it’s your break out in the [defensive] zone or chipping it off the glass. There are always fundamentals that you can work on and skills that you can achieve in these games and really iron out because you don’t get the opportunity to do it in other games,” junior winger Hilary Knight said.The lopsided contests gave Wisconsin the opportunity to do a few things with their personnel as well. On Friday night, head coach Mark Johnson put freshman defenseman Kelly Jaminski at left wing on the fourth line.“I think sometimes, for young players, it’s okay to play other positions, especially for a defenseman to go up and maybe play forward to get an understanding of how to play that certain position,” Johnson said.One of the reasons that Jaminski was able to play wing was because sophomore defenseman Alev Kelter returned to the lineup now that the soccer season has ended, which gives the Badgers seven solid defensemen to choose from. Mark Johnson recognized the potential Jaminski possesses in the offensive zone despite her lack of experience.“I thought she was going to score there in the third period. She was on for one of our goals. It’s probably the first – I don’t want to say in her life but certainly in a long time – where she has had to play forward,” Johnson said.In the game on Friday, junior winger Carolyne Prevost appeared to tweak something in her back. The coaching staff and trainers elected to keep her out of Sunday’s game for precautionary reasons.“We held her out today. She probably could have played, but the one thing is when these kids travel overseas they get tired, you work with jet lag, you get nicks and bumps along the way. In a game where you can rest her and do some things with our trainer to get her prepared for Tuesday’s practice, we felt that was in the best interest,” Johnson said.Her absence paved the way for several young Badgers to get to play in situations that normally they wouldn’t.Freshman defenseman Laurel Miller got the nod at forward, and toward the end of Sunday’s tilt was able to play with none other than Hilary Knight.Knight did everything in her power to earn Miller a point in front of the home crowd.“I really wanted to get either Laurel Miller or Lauren Unser a goal, so we were working at that,” Knight said.The other player who Johnson put in a new situation was Breann Frykas, who he moved up a line to play with Kelly Nash and Mallory Deluce.“That’s good for her to get some ice time and create some more opportunities for her to play,” Johnson said.St. Cloud State likely isn’t the team that will ready the championship-hopeful Badgers for close games down the stretch, but the games did provide Wisconsin with, if nothing else, more confidence on the offensive end and some invaluable experience for the young players on the squad.last_img read more