Medical Equipment Sector Gains Ground Despite Rupiah Slump

As the weakening rupiah against the US dollar starts to disrupt industries that still rely on imported raw materials, emerging headwinds must first be addressed before opportunities can be capitalized.

Fatkhul Maskur

4 Jul 2024 - 20.21
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Medical Equipment Sector Gains Ground Despite Rupiah Slump

Illustration - Rows of health equipment at the Jakarta Athlete House. Demand for medical equipment grew rapidly during the Covid-19 pandemic./Bisnis/Antara.

Bisnis, JAKARTA — The medical equipment industry is one of the number of domestic sectors facing pressure due to the rupiah depreciation headwind.

The rupiah closed down on Tuesday (7/2/2024) by 0.46 percent or 75 points to IDR 16,396 per US dollar. At the same time, the dollar index strengthened by 0.11 percent to 105.700. The rupiah has continued its downtrend since the end of 2023 when it stood at IDR 15,399 per US dollar.

The Indonesian Medical Equipment Manufacturers Association (Aspaki) has started to see the impact of the weakening rupiah on the increased cost burden of production materials. Cristina Sandjaja, Secretary-General of Aspaki, said that the strengthening greenback has caused the prices of imported raw materials for medical devices to soar.

"Yes, [the impact] is apparent, especially in industries where most raw materials still need to be imported, so these industries have to adjust the prices of their products," said Cristina, quoted on Monday (5/27/2024).

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.