Jakarta: President Joko 'Jokowi' Widodo believes that creative small and medium enterprises (SMEs) will not be significantly affected by the global economic slowdown.
"They have a lot of potentials. Our handicraft products are very competitive," President Jokowi said here on Thursday.
"We should not compete against mass-produced products. We should focus on hand-made products," President Jokowi noted.
On Friday morning, President Jokowi opened the 2019 Indonesia Creative Works (IKK) exhibition in the capital of Jakarta, he was accompanied by Bank Indonesia (BI) Governor Perry Warjiyo, Creative Economy Agency (Bekraf) head Triawan Munaf and other related government officials.
Initiated by BI, the exhibition presents complete collections of woven, tied, and batik cloth as well as traditional crafts from hundreds crafters which are affiliated with the central bank. Held for three days until Sunday, the event is one of the actual actions of the central bank to support development of creative SMEs.
Indonesia’s trade balance recorded a USD0.21 billion surplus in May 2019, reversing the USD2.28 billion deficit posted the month earlier. A non-oil and gas trade surplus together with a narrower oil and gas trade deficit were the main contributors to the surplus.
The non-oil and gas trade surplus stemmed from a growth surge of non-oil and gas exports coupled with flatter non-oil and gas imports. Meanwhile, the oil and gas trade deficit narrowed on increasing oil and gas exports along with decreasing oil and gas imports.
The non-oil and gas trade surplus stood at USD1.19 billion in May 2019 after recording a USD0.79 billion deficit the month earlier.
On one hand, the improvement was driven by an increase of non-oil and gas exports from USD12.37 billion in April 2019 to USD13.63 billion in the reporting period, induced by shipments of vegetable/animal oils and fats, jewellery/gems, as well as mineral fuels.
On the other hand, non-oil and gas imports fell USD0.72 billion (mtm) to USD12.44 in May 2019, primarily held back by imports of electrical machinery and equipment, iron and steel as well as machinery and mechanical appliances.