Bank Indonesia Policy Mix
External Sector Remains Resilient
Supported by Adequate Reserves and Sound Balance of Payments
Balance Of Payment Remains Solid
Current Account
Overall Balance
10000
Capital and Financial Account
Reserve Asset (rhs)
Current Account Recorded Deficit in Q2-2021
2018:
2019:
2013:
2014: 2015: 2016:
2017:
2020: 2021:
CA Deficit CA Deficit CA Deficit CA Deficit CA Deficit CA Deficit CA Deficit CA DeficitCA Deficit
(US$29.1bn) (US$26.7bn) (US$17.5bnXUS$16.9bn) (US$16.2bn) (US$30.6bn)(US$30.3bn) (US$4.5bnXUS$3.3bn)
US$bn
20
15
10
5
0
-5
-10
-15
US$bn
160
US$bn
137.09
13
Goods
120
8
Primary Income
Services
Services
1.0
8.10
1.92
3
80
(0.45)
A
г 0.0
-0.77-1.0
1.46 -2.0
-2
(2.23)
(8.14)-3.0
40
-7
-4.0
(3.65)
-12
-5.0
0
2020 2021**
Q10203040
2013
Source: Bank Indonesia
2014
2015
2016
2017
2018
2019*
3Q4Q1Q 2Q 3Q 4Q1Q2
2020* 2021**
Q102030401020 30 40 10 20 30 40 10 20 30 40 10 20 30 40 10 20 30 40 10 20 30 40 10 20 30 40 102
2013
Source: Bank Indonesia
2014
2015
2016
Trade Balance Surplus Continues
2016:
Surplus
US$bn US$8.83bn
6
5
-2
43210 1 2 3
-1
2016
2017:
Surplus
US$11.83bn
2017
2018
2019*
2018:
2019:
Deficit
Deficit
(US$8.65bn) (US$3.24bn)
2020:
2021:
Surplus
Surplus
(US$21.81bn) (US$11.72n)
OG
Non-OG -Total
2017
Official Reserve Assets Increased to Reinforce External Sector Resilience
FX Reserves as of September 2021: US$146.9 bn
(Equiv. to 8.6 months of imports + servicing of government debt)
US$bn
FX Reserves (LHS)
150
4.37
Month
Month of Import & Debt Service (RHS)
15
146.9
140
130
5.3
120
110
100
8.6
90
-0.93
80
70
60
54321O
DEELLE987654321
50
1 3 5 7 9
1 3 5 7 9
11
1 3 5 7 9
11
1 3 5 7 9
1 3 5 7 9
11
11
1 3 5 7 9
11
2016
2017
2018
2019
2020
2018
2019
2020
2021
Preliminary Figure ** Very Preliminary Figure
Source: BPS
Source: Bank Indonesia
2021
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