Indonesian Export Diversification to OIC Countries during Covid-19 Pandemic: A Literature Review

Abstract

AbstractPurpose – The COVID-19 pandemic has had a negative impact on the economies of OIC member countries. The global trading system has been a source of flexibility, diversification, and strength during the pandemic. Export diversification is considered a significant tool to accelerate the pace of economic growth. This study aims to analyze the diversification of Indonesia's exports to the OIC countries during and post-COVID-19.Methodology - To develop export diversification, Indonesia is accelerating several strategies to take advantage of its relationship with OIC countries, including increasing exports of halal products, strengthening market access for Indonesian halal products in foreign markets, and preparing various programs to strengthen business players in exporting halal products.Findings - Post-COVID-19 pandemic recovery, Indonesia's trade balance performance with the OIC countries showed a positive performance by recording a surplus in 2021. Even though during the pandemic in 2019 and 2020, exports to the OIC countries experienced a decline.Keywords: Export Diversification, OIC Countries, Covid-19 Pandemic.