REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia said the country recorded a balance of payment surplus of 4.4 billion USD in the last quarter of 2013 radiating a healthy performance after deficits in the previous three quarters. 

"The improvement in the countrys balance of payments in the fourth quarter of 2013 was attributable partly to sharp cut in current account deficit to 4 billion USD or 1.98 percent of the Gross Domestic Product (GDP)," head of the Balance of Payment Group Endy Dwi Tjahjono said on Friday. 

The country's current account deficit fell from 8.4 billion USD or 3.8 percent of the GDP in the previous quarter. 

"The surplus in the balance of payment in the 4th quarter of 2013 was also attributable to an increase in capital and financial account surplus to 9.2 billion USD from 5.6 billion USD in the previous quarter," Tjahjono said.

The surplus in the balance of payment had resulted in an increase in the country's foreign exchange reserves from 95.7 billion USD in the third quarter to 99.4 billion USD in December 2013. Tjahjono attributed the surplus in the balance of payments to effective policy mix of the government and Bank Indonesia in focusing efforts to slash current account deficit and strengthen external resilience. 

With the surplus in the 4th quarter, the country's balance of payment deficit was reduced to 7.3 billion USD in 2013 after a surplus of 200 million USD in 2012. 

The deficit in 2013 was caused by widening current account deficit totaling 28.5 billion USD or 3.26 percent of GDP in the whole of that year -- larger than 24.4 billion USD or 2.78 percent of GDP in 2012. 

The trend was in line with the global economic slowdown and commodity prices fall that resulted in a sharp fall in the country's exports, Tjahjono said. 

Ikuti Whatsapp Channel Republika