**4.2 Indonesia FDI link with Argentina and Turkey**

**4. Result and analysis**

*Public Sector Crisis Management*

10,176,226.6 thousand.

**Figure 2.**

**Figure 3.**

**48**

**4.1 Indonesia trade link with Argentina and Turkey**

trade activities was negative throughout the period (**Figure 3**).

*Share of Indonesia export to several countries. Source: CEIC database.*

*Share of Indonesia import from several countries. Source: CEIC database.*

The following figures summarize the share of Indonesian export and import to and from Turkey and Argentina, as well as with the United States as a benchmark. The United States is one of the Indonesia's main trade partners, besides China. Indonesia's export share to the United States has a declining trend. Even so, the value is higher than the value of the US product imports into Indonesia. In 2018, the value of Indonesia's exports to the United States was USD 18,439,760.7 thousand, while the value of imports from the United States to Indonesia reached USD

Indonesian exports to Argentina and Turkey tend to be stable. **Figure 2** shows that in the last 3 years, imports from Argentina were higher than imports from Turkey and the Philippines. Even the value of Argentine imports to Indonesia is higher than Indonesian exports to Argentina. The Indonesian Ministry of Trade data from 2014 to June 2019 shows that the trade balance resulting from Indonesia's

Based on **Figure 4**, the share of FDI from Turkey to Indonesia is from 0 to 0.749%. The range is higher than from Argentina, which is only 0–0.001%. The FDI trend from the United States is declining, while those from China are increasing. It is also necessary to be aware of the decline in FDI flows from countries affected by the Turkey and Argentina crises (direct and indirect). Besides that, exploring the FDI flows between China and Turkey, China and Argentina, the United States and Turkey, the United States and Argentina, Europe and Turkey, and Europe and Argentina is also important.

**Figure 4.** *Share of foreign direct investment to Indonesia. Source: CEIC database.*
