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Economic cooperation between Indonesia and Sweden increases amid Covid-19 pandemic

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The Indonesian Central Statistics Agency (BPS) recorded that  the total trade value between Indonesia and Sweden throughout 2021 increased by 22 percent, compared to 2020,  with the strengthening of the value of exports of Indonesia to Sweden by US $251.9 million or around Rp3.6 trillion or an increase of 31.6 percent.  Indonesian Ambassador to Sweden, Kamparadipta Isnomo in a written statement to the Indonesian Embassy in Stockholm on Friday (4/2) stated that the Covid-19 pandemic has brought its own challenges in fostering economic relations among countries, including Indonesia and Sweden.

Besides,  Ambassador Kamapradipta also said  that by 2021, the total trade value and the value of Indonesia's exports to Sweden were the highest in the Nordic region. The statement also noted that the increase in the value of Sweden's exports and investment to Indonesia cannot be separated from the bilateral economic relations that have been fostered by both countries. Throughout 2021, the Indonesian Embassy in Stockholm reported that it is actively approaching many groups in Sweden both government and business sides and facilitating meetings between companies from  both countries.

Based on data from the International Trade Center (ITC), Indonesia exported five major commodities to Sweden in 2021. These goods are animal or vegetable fats, knitted clothing items, vehicles other than  tram carriages, footwear as well as non-woven clothing items.  Along with the increase in Indonesia's exports to Sweden, the value of Sweden's inbound investment to Indonesia is also growing. Sweden's main investment in Indonesia is in the health sector, transportation,information technology, textiles, chemical products ,as well as packaged food and beverage products.

Moreover, Ambassador Kamapradipta hopes that in 2022, the Indonesian Embassy can realize a lot of  collaborations that have been explored over the last two years,  including in the energy, transportation and health sectors. Furthermore, the Indonesian Embassy will also encourage collaboration with Sweden in the success of Indonesia's G20 presidency, and the development of the new capital, Nusantara.

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