Indonesia's COVID-19 Vaccination and Economic Resilience Strategy
External Sector Remains Resilient
Supported by Adequate Reserves and Sound Balance of Payments
Balance Of Payment Remains Solid
US$bn
Current Account
Overall Balance
I Capital and Financial Account
Reserve Asset (rhs)
20
15
10
5
0
-5
-10
-15
Current Account Recorded Surplus
2020:
2021:
2021:
2015: 2016:
2017:
2018:
2019:
CA Deficit CA Deficit CA Deficit CA Deficit CA Deficit
(US$17.5bn) (US$16.9bn) (US$16.2bn)(US$30.6b) (US$36.36) Surplus CA Surplus CA Surplus
(US$4.4bn) US$3.5bn US$8.9bn
US$bn
160
130.78
US$bn
23
120
18
4.38
13
80
8
(1.30)
3
40
(6.07)
(2)
(7)
0
(12)
Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3
2015
2016
2017
2018
2019*
2020* 2021** 2022**
Source: Bank Indonesia
Trade Balance Surplus Continues
2017:
2018:
Surplus
Deficit
US$11.83bn
(US$8.65bn)
US$bn
15
10
LO
5
0
-5
2019:
Deficit
(US$3.24bn)
2020:
2021:
2022:
Surplus
Surplus
Surplus
(US$21.81bn) (US$33.8bn) (US$50.65bn)
OG
Non-OG ―Total
2017
2018
2019
2020
2021
2022
Source: BPS
Preliminary Figure ** Very Preliminary Figure
Goods
Services
2.00
1.28
1.00
----------
17.51
(1.00)
1.41 (2.00)
(9.27)
(3.00)
(5.27) (4.00)
Q1/Q2Q3/Q41 Q2Q3 Q401 02 03 04Q1Q2Q2Q41 Q2Q3041 Q2Q3/Q401 02030401 02 03
2015
2016
Source: Bank Indonesia
2017
2018
2019*
2020*
2021** 2022**
Official Reserve Assets Increased to Reinforce External Sector Resilience
FX Reserves as of October 2022: US$134.0bn
(Equiv. to 5.8 months of imports + servicing of government debt)
US$bn
FX Reserves (LHS)
150
Month of Import & Debt Service (RHS)
Month
15
140
130
6.83
120
110
5.16
100
90
80
70
60
54321
STILLI987654321
14
13
-1.67
50
1 3 5 7 9
1 3 5 7 9
11
1 3 5 7 9
11
11
1 3 5 7 9 1 3 5 7 9
11
1 3 5 7 9
11
11
2017
2018
2019
2020
2021
2021
Source: Bank Indonesia
76View entire presentation