Something interesting that we had pointed out in last month’s edition of our report is that the Indonesian government has started to loosen the self-imposed social and business restrictions despite the fact that new novel coronavirus (COVID-19) cases are still growing exponentially across the country (with Jakarta, West Java, East Java, Central Java, and South Sulawesi being the epicenters).
Update COVID-19 in Indonesia: 1,298,608 confirmed infections, 35,014 deaths (23 February 2021)
23 February 2021 (closed)
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
Jakarta Composite Index (6,272.81) +17.50 +0.28%
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On Friday (03/07/2020) Indonesia Investments released the June 2020 edition of its monthly report. In this edition, titled 'Indonesia's New Normal', several topics are discussed including the new normal for Indonesia (as the COVID-19 pandemic changes people's behavior and changes local regulations), Indonesia's micro, small, and medium-sized enterprises (which have come under great stress), and Indonesia's energy sector.
After two months of trade surpluses in February and March 2020, Indonesia’s trade balance swung back to a deficit in the following month. According to the latest data from Statistics Indonesia (BPS), Indonesia experienced a USD $344.7 million trade deficit in April 2020.
The Indonesian rupiah rate, which had been under extreme pressure amid the start of the novel coronavirus (COVID-19) crisis in March 2020, rebounded in April 2020 and continued this rebound throughout May 2020 (albeit at a less impressive pace).