During the first semester of 2021, exports of Indonesia's key commodities to Switzerland, except for precious metals, jewelry, and precious stones, were on a rise, the embassy noted in a written statement received in Jakarta on Wednesday.
The exports of precious metals, jewelry, and precious stones dropped significantly to Rp9.58 trillion in the first semester of 2021, from Rp14.97 trillion during the corresponding period last year.
The drop led to the trade surplus plunging to Rp10.37 trillion during the January-June 2021 period, from Rp13.03 trillion during the corresponding period last year.
However, the exports of essential oils, furniture, knitted fabric, and footwear soared significantly by 36 percent, 22 percent, 17 percent, and 15 percent respectively
Exports of Indonesia's 10 key commodities to Switzerland comprised precious metals , jewelry/precious stones, footwear, non-knitted fabric, knitted fabric, electrical appliances, furniture, coffee, essential oils, turbine engine and spare parts, as well as organic chemicals.
The embassy noted that the COVID-19 pandemic had significantly affected the trade surplus in the first semester of 2021. Switzerland has eased the economic and social activity restriction policy since June 26, 2021.
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The Swiss State Secretariat for Economic Affairs (SECO) remarked that the easing of economic and social activity restrictions had spurred faster economic recovery.
SECO has forecast the Swiss gross domestic product (GDP) to increase 3.6 percent in 2021 as compared to its forecast of three percent in March 2021.
The Swiss economy is expected to grow positively until the end of 2021 after contracting 0.5 percent in the first quarter of 2021. The Swiss economy contracted by up to 2.9 percent last year.
Indonesian Ambassador to Switzerland and Liechtenstein Muliaman Hadad has projected trade between the two countries to continue to increase in the third and fourth quarters of this year.
Hadad remarked that public activities in Switzerland will push rising economic activities, thereby raising the country's demand for Indonesian products.
Relations between Indonesia and Switzerland, including government-to-government, business-to-business and people-to-people, continue to intensify.
This year, Indonesia and Switzerland will commemorate seven decades of bilateral relations. The two countries established diplomatic relations in 1951.
Switzerland is the second-largest investor in Europe. It is one of the top 10 investors in Indonesia, with an investment value of US$469.5 million (Rp6.7 trillion) in the first semester of 2021.
Related news: Indonesia's manufactured goods exports soar in first half of 2021
Translator: Yuni Arisandy S, Suharto
Editor: Rahmad Nasution
Copyright © ANTARA 2021
