The country`s foreign trade had a surplus of US$776.8 million in November 2013 , although deficit of US$.56 billion was still recorded in the first 11 months of that year.
Jakarta (ANTARA News) - Finance Minister Chatib Basri said the surplus in the countrys trade balance in Nov. 2013 was expected to lead to narrowing the current account deficit until the end of that year.

The countrys foreign trade had a surplus of US$776.8 million in November 2013 , although deficit of US$.56 billion was still recorded in the first 11 months of that year.

A slight surplus of US$24.3 million was already recorded in October after deficits in most of the previous months

More surplus is expected in December that the current account deficit could be reduced by the end of the year, Chatib said here on Thursday.

"If the service account was unchanged, and surplus continued in the last three months of 2013, the current account deficit in the last quarter of 2013 would be smaller," Chatib said.

He said the surplus in November was higher than expected of US$600 million.

He said export began to pick up in line with the improved condition of the US economy and slow down in imports.

"In August surplus was recorded but in September there was a deficit again," he said, adding the trend is improving with surplus widening in November.

"Currently our concern is the current account deficit, but it would be reduced and rupiah would strengthen with the improvement in trade balance," he said.

The countrys current account deficit has been cut from US$9.9 billion or 4.4 percent of the GDP in the second quarter of 2013, to US$8.4 billion or 3.8 percent of the GDP in the third quarter.

It is expected that the current account deficit would fall again to 3.5 percent of the GDP in the last quarter of 2013.

The market players gave positive response to the improvement in the trade balance with the composite index of the Indonesian Stock Exchange closing 1.23 percent higher at 4,327 points on Thursday.

Rupiah also gained 42 points against the US dollar to close at the level of 12,118 per dollars after the BPS published economic data in line with the market expectation. (*)

Editor: Heru Purwanto
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