Indonesia recorded a surplus of US$623 million in its trade with Switzerland in the initial five months of 2021 despite the global economy having shown no signs of recovery owing to the COVID-19 pandemic.
Indonesia's trade performance with Switzerland improved in May 2021 after bilateral trade decreased in the previous months, the Indonesian Embassy in Bern noted in a press statement issued on Tuesday.
According to the Swiss Federal Customs Administration (FCA), Indonesia's exports to Switzerland had reached US$782 million during the January-May 2021 period, while its imports from the European country stood at US$159 million.
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Consequently, Indonesia clocked a surplus of US$623 million over the period of time.
"This is good news. Despite a downward trend in global trade, Indonesia is still able to record a surplus in its trade with Switzerland. We are optimistic of Indonesia being able to maintain a surplus in its trade with Switzerland in future," Indonesian Ambassador to Switzerland and Liechstentein Muliaman Hadad stated.
The trade surplus reflected a bright point amid the sluggish global economy due to the COVID-19 pandemic, he remarked.
"As a country with a strong economy, Switzerland is also affected by the pandemic that has an impact on its economic growth. This is because Switzerland is an export-oriented country," he stated.
According to the Swiss Coordinating Ministry for Economy, the Swiss economy contracted 0.5 percent in the first quarter of 2021 after recording a 0.1-percent growth in the previous quarter. Overall, the trade sector contracted 4.8 percent.
Indonesia's exports to Switzerland comprised jewelry, footwear, non-woven and woven fabrics, electronic goods, coffee, furniture, and organic chemicals.
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