Jakarta (ANTARA) - Bank Indonesia (BI) recorded a surplus of US$10.7 billion in the balance of payments (BOP) in the third quarter of 2021 after experiencing a deficit of US$0.4 billion in the previous quarter.<\/p>\n
\"Thus, this supports external resilience,\" Head of BI's Communication Department, Erwin Haryono, noted in an official statement received in Jakarta on Friday.<\/p>\n
Meanwhile, foreign exchange reserves at the end of September 2021 reached US$146.9 billion, higher than US$137.1 billion at the end of June 2021.<\/p>\n
The foreign exchange reserve position is equivalent to financing 8.6 months of imports and servicing government external debt, as it is above the international adequacy standards.<\/p>\n
In the third quarter of 2021, the current account recorded a surplus that was mainly supported by a significant increase in the balance of trade (goods) surplus.<\/p>\n
The current account in the reporting period recorded a surplus of US$4.5 billion (1.5 percent of the GDP) after a deficit of US$2.0 billion (0.7 percent of the GDP) during the previous quarter.<\/p>\n
A surplus in the goods balance drove this positive performance due to an increase in non-oil and gas exports that aligned with strong demand from trading partner countries and the continued increase in prices of major export commodities in the international market.<\/p>\n
On the other hand, the services account deficit was lower, partly due to improved performance in transportation services and supported by increased revenue from freight services as export activity improved.<\/p>\n
The primary income account deficit increased on account of an increase in payments for direct investment returns, influenced by improvements in the performance of natural resource-based corporations.<\/p>\n
Related news: Indonesia's BOP posted a surplus of US$2.6 billion in 2020<\/p>\n
The capital and financial account in the third quarter of 2021 recorded a surplus of US$6.1 billion (two percent of the GDP), higher than the US$1.6 billion (0.6 percent of the GDP) in the previous quarter.<\/p>\n
\"This is increasing, especially from direct investment. Net inflows of direct investment are maintained at US$3.3 billion,\" Haryono affirmed.<\/p>\n
Other investments also recorded a surplus after experiencing a deficit in the previous quarter as influenced by a decrease in net foreign loan payments, an increase in the placement of non-resident deposits in the country, and an additional allocation of special drawing rights (SDR).<\/p>\n
Portfolio investment during the third quarter of 2021 also recorded net inflows of US$1.1 billion, although it decreased, from US$4.0 billion in the previous quarter in line with the global financial market uncertainty.<\/p>\n
Haryono ensured that BI will continually monitor the dynamics of the global economy that could affect the outlook for the balance of payments.<\/p>\n
BI also continued to strengthen the policy mix to maintain economic stability and continued policy coordination with the government and relevant authorities to strengthen external sector resilience, he added.<\/p>\n
Related news: BI estimates operational budget surplus of Rp20.8 trillion in 2020<\/p>\n
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BI records surplus of US$10.7 billion in balance of payments - ANTARA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Jakarta (ANTARA) - Bank Indonesia (BI) recorded a surplus of US$10.7 billion in the balance of payments (BOP) in the third quarter of 2021 after experiencing a deficit of US$0.4 billion in the previous quarter. Continue reading