Indonesia’s car exports are forecast to drop by 50 percent in 2020 due to large-scale social restrictions amid the COVID-19 pandemic, according to Association of Indonesian Automotive Manufacturers (Gaikindo).
At the 2017 Gaikindo Indonesia International Auto Show (Photo:)
Jakarta (VNA) – Indonesia’s car exports areforecast to drop by 50 percent in 2020 due to large-scale social restrictionsamid the COVID-19 pandemic, according to Association of Indonesian AutomotiveManufacturers (Gaikindo).
In April, the country’s domestic car sales nosedived by more than 90 percentyear-on-year.
Gaikindo also slashed Indonesia’s car export target to 175,000 units in 2020from the initial target of 350,000 to 400,000 units.
Chairman of Gaikindo Yohannes Nangoi said it will be difficult for the countryto reach its export target of 1 million cars by 2025.
Indonesia’s consumer confidence index plummeted to its lowest level in 12 yearsas consumers expressed pessimism amid the pandemic, according to a recent BankIndonesia (BI) survey.
Yohannes said the health crisis threatened 1.5 million automotive industryworkers in the country, though Gaikindo members agreed to avoid layoffs./.
Indonesia’s Ministry of Transportation has imposed penalties on local carrier Batik Air and the operators of the Soekarno-Hatta and PT Angkasa Pura II Airports for not maintaining a safe distance between passengers during the COVID-19 pandemic.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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At the 2017 Gaikindo Indonesia International Auto Show (Photo:) 
