“Recording 75 years of resilience” is a series of special reports by The Jakarta Post to celebrate Indonesia’s Independence Day, August 17,1945 Indonesia has been relying greatly on products to create trade surpluses for the past 75 years, but unstable rates have pressed the country to diversify exports, while the international pandemic and a trade war haunt future international trade. The nation’s trade surplus peaked at US$397 billion in 2007, thanks to exports of, among other things, coal, crude palm oil, rubber, wood, bauxite and nickel. “Substantial increases [in trade surpluses] happened in between 2004 and2011 That was during the product boom,” Faisal Basri, an economist at the University of Indonesia, informed The Jakarta Post in a phone interview on Aug.13 Read also: Indonesia logs most significant trade surplus in 9 years, greater …
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